Britta incurred the following capital gains and losses in 2019: Short-term capital gain $12,000 Short term capital loss ($19,000) Long term capital gain (28%) $5,000 Long term capital gain (25%) $12,000 Long term capital gain (0%/15%/20%) $17,000 Long term capital loss (0%/15%/20%) ($20,000) What is the net gain or loss Britta must recognize in 2019? Specify the character and tax rate that applies to the gain or loss. Please show your work.
Britta incurred the following
Short-term capital gain $12,000
Short term capital loss ($19,000)
Long term capital gain (28%) $5,000
Long term capital gain (25%) $12,000
Long term capital gain (0%/15%/20%) $17,000
Long term capital loss (0%/15%/20%) ($20,000)
What is the net gain or loss Britta must recognize in 2019? Specify the character and tax rate that applies to the gain or loss. Please show your work.
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