You have the following: Short term capital losses - $9,000 Long term capital losses - $8,000 Short term capital gains - $6,000 Long term capital gains - $7,000 What amount is reported on page 1 of the Form 1040? O a. $3,000 loss O b. $4,000 gain C. $4,000 loss O d. $1,000 loss O e. $1,000 gain O f. $3,000 gain

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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You have the following:
Short term capital losses - $9,000
Long term capital losses - $8,000
Short term capital gains - $6,000
Long term capital gains - $7,000
What amount is reported on page 1 of the Form 1040?
O a. $3,000 loss
O b. $4,000 gain
c. $4,000 loss
O d. $1,000 loss
O e. $1,000 gain
O f. $3,000 gain
Clear my choice
Transcribed Image Text:You have the following: Short term capital losses - $9,000 Long term capital losses - $8,000 Short term capital gains - $6,000 Long term capital gains - $7,000 What amount is reported on page 1 of the Form 1040? O a. $3,000 loss O b. $4,000 gain c. $4,000 loss O d. $1,000 loss O e. $1,000 gain O f. $3,000 gain Clear my choice
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