Jason has three capital transactions for the current year: Short-term capital loss of $5,000 Short-term

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Jason has three capital transactions for the current year:

• Short-term capital loss of $5,000

• Short-term capital gain of $3,000

• Long-term capital loss of $2,000 What is the net effect on Jason’s taxes if he is in the 35% tax bracket?

a. $1,400 tax reduction.

b. $1,050 tax reduction.

c. $850 tax reduction.

d. $450 tax reduction.

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