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In the current year, Erin had the following capital gains (losses) from the sale of her investments: $2,000 LTCG, $25,000 STCG, ($9,000) LTCL, and ($15,000) STCL What is the amount and nature of Erin's capital gains and losses? Multiple Choice $3,000 net short term capital gain O $3,000 net long-term capital loss. $4,000 net short term capital gain $4.000 net long term copitel loss None of the choices are correct

In the current year, Erin had the following capital gains (losses) from the sale of her investments: $2,000 LTCG, $25,000 STCG, ($9,000) LTCL, and ($15,000) STCL What is the amount and nature of Erin's capital gains and losses? Multiple Choice $3,000 net short term capital gain O $3,000 net long-term capital loss. $4,000 net short term capital gain $4.000 net long term copitel loss None of the choices are correct

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In the current year, Erin had the following capital gains (losses) from the sale of her Investments: $2.000 LTCG, $25.000 STCG, ($9,000) LTCL, and ($15,000) STCL What is the amount and nature of Erin's capital gains and losses? Multiple Choice O $3.000 net short term capital gain O $3,000 not long-term capital loss $4,000 net short-term capital gain $4,000 not long term copitel loss None of the choices are correct
Transcribed Image Text:In the current year, Erin had the following capital gains (losses) from the sale of her Investments: $2.000 LTCG, $25.000 STCG, ($9,000) LTCL, and ($15,000) STCL What is the amount and nature of Erin's capital gains and losses? Multiple Choice O $3.000 net short term capital gain O $3,000 not long-term capital loss $4,000 net short-term capital gain $4,000 not long term copitel loss None of the choices are correct
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