Sanju has $12,500 of net long-term capital gain and $7,800 of net short- term capital loss. This nets out to a: (a) $4,700 net long-term loss. (b) $4,700 net long-term gain (c) $4,700 net short-term gain (d) $4,700 short-term loss
Sanju has $12,500 of net long-term capital gain and $7,800 of net short- term capital loss. This nets out to a: (a) $4,700 net long-term loss. (b) $4,700 net long-term gain (c) $4,700 net short-term gain (d) $4,700 short-term loss
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter4: Gross Income
Section: Chapter Questions
Problem 2CE
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Question
Net Short capital loss
Transcribed Image Text:Sanju has $12,500 of net long-term
capital gain and $7,800 of net short-
term capital loss. This nets out to a:
(a) $4,700 net long-term loss.
(b) $4,700 net long-term gain
(c) $4,700 net short-term gain
(d) $4,700 short-term loss
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