Question: Teddy has three capital transactions for the current year: A short-term capital loss of $8,000. A short-term capital gain of $6,000. A long-term capital loss

Teddy has three capital transactions for the current year: A short-term capital loss of $8,000. A short-term capital gain of $6,000. A long-term capital loss of $5,000.

What is the net effect on Teddys income taxes this year if he is in the highest income tax bracket?

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