A TP had the following capital gains (losses) from the sale of his investments: $2,000 LTCG; $25,000 STCG; ($16,000) LTCL; and ($15,000) STCL. What is the amount and nature of TP's capital gains and losses?

A. None of the choices are correct.

B. $3,000 net long-term capital loss.

C. $4,000 net long-term capital loss.

D. $4,000 net short-term capital gain.

E. $3,000 net short-term capital gain.

This year Zach was injured in an auto accident. As a result, he received the following payments.

Zach received $18,000 of disability pay. Zach has disability insurance provided by his employer as a nontaxable fringe benefit. Zach's employer paid $4,300 in disability premiums for Zach this year.

Zach's hospital bills totaled $4,500 and were paid by his health insurance. Zach has health insurance provided by his employer as a nontaxable fringe benefit. Zach's employer paid $6,250 in health insurance premiums for Zach this year.

What amount must Zach include in his gross income?

A. $4,500

B. $10,550

C. $18,000

D. Zero - None of these benefits is included in gross income.

E. $22,500