Elliott has the following capital gain and loss transactions for 2018. Short-term capital gain .............................$ 1,500 Short-term

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Elliott has the following capital gain and loss transactions for 2018.

Short-term capital gain .............................$ 1,500
Short-term capital loss ...............................(3,600)
Long-term capital gain (28%) ....................12,000
Long-term capital gain (25%) ......................4,800
Long-term capital gain (15%) ......................6,000
Long-term capital loss (28%) ....................(4,500)
Long-term capital loss (15%) ....................(9,000)

After the capital gain and loss netting process, what is the amount and character of Elliott's gain or loss?

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Related Book For  answer-question

South-Western Federal Taxation 2019 Comprehensive

ISBN: 9781337703017

42th Edition

Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young

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