Alan’s capital gain/loss position for the year is:
A. Long-term gain $8,000; short-term capital loss $1,000.
B. Net long-term capital gain $7,000.
C. Short-term capital loss $4,000; long-term capital gain $11,000
D. Collectibles gain $3,000; long-term capital gain $4,000
Answer:B
Alan’s capital gain/loss position for the year is:
A. Long-term gain $8,000; short-term capital loss $1,000. B. Net long-term capital gain $7,000. C. Short-term capital loss $4,000; long-term capital gain $11,000 D. Collectibles gain $3,000; long-term capital gain $4,000