Question: Question 9 (3 points) For the current year, a taxpayer had a short-term capital gain (STCG) of $5,000 and a short- term capital loss (STCL)
Question 9 (3 points) For the current year, a taxpayer had a short-term capital gain (STCG) of $5,000 and a short- term capital loss (STCL) of $1,000. The taxpayer also had a long term capital gain (LTCG) of $3,000 and a long-term capital loss (LTCL) of $6,000. Based upon that information, which of the following is not true? The taxpayer has a NSTCG of $4,000. O The taxpayer has a NLTCL of $3,000. The taxpayer treats the net gain of $1,000 just like ordinary income. The taxpayer cannot combine the NSTCG and NLTCL; therefore, the NSTCG is treated like ordinary income and the NLTCL is deductible as a net capital loss (NCL). Question 10 (3 points) saved K had short-term capital losses of $2.000 and long-term capital gains of $5,000 during the current year. By what amount is K's AGI increased as a result of these transactions? $2000 $2500
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