An individual had the following gains and losses for the year:

Short-term capital loss

$30,000

Section 1231 loss

$20,000

Long-term capital gain (unrecaptured Section 1250 at 25%)

$18,000

Collectibles gain (28% rate)

$20,000

Long-term capital gain (15% rate)

$15,000

What will be the net capital gain (loss) reported by the individual and at what applicable tax rate(s)?

A.

Long-term gain of $3,000.

B.

Collectibles gain of $3,000.

C.

Long-term gain (unrecaptured Section 1250) of $3,000 at 25% and collectibles gain of $20,000 at 28% rate.

D.

Long-term gain (unrecaptured Section 1250) of $8,000 at 25% and long-term gain of $15,000 at 15%.

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