I:5-48 Capital Gains and Losses. Consider the four independent situations below for an unmarried individual, and analyze the effects of the capital gains and losses on the individual’s AGI. For each case, determine AGI after considering the capital gains and losses.

Situation 1 Situation 2 Situation 3 Situation 4 AGI (excluding property transactions) $40,000 $50,000 $60,000 $70,000 STCG 6,000 2,000 5,000 6,000 STCL 2,000 5,000 4,000 15,000 LTCG 3,500 15,000 10,000 9,000 LTCL 2,500 4,000 12,000 4,000