For tax calculation purposes, the net result of the above is:
A. Long-term gain $8,000; short-term capital loss $4,000.
B. Net long-term capital gain $4,000.
C. Collectibles gains $2,000; long-term capital gain $2,000
D. Collectibles gains $6,000; short-term capital loss $2,000.
Answer:C
For tax calculation purposes, the net result of the above is:
A. Long-term gain $8,000; short-term capital loss $4,000. B. Net long-term capital gain $4,000. C. Collectibles gains $2,000; long-term capital gain $2,000 D. Collectibles gains $6,000; short-term capital loss $2,000.