John (a sole proprietor) and Eagle Corporation (a C corporation) each recognize a long-term capital gain of $10,000 and a short-term capital loss of $18,000 on the sale of capital assets. Neither taxpayer had any other property transactions during the year. Describe and analyze the tax consequences of these gains and losses for John and for Eagle.

Please be sure to include at references.

Also, please be sure to reference the IRS web address used.