An individual reports the following capital transactions in the current year: Short-term Capital gain $1,000 Short-term capital
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Question:
An individual reports the following capital transactions in the current year:
Short-term Capital gain $1,000
Short-term capital loss $(11,000)
Long-term capital gain $10,000
Long-term capital loss $(6,000)
What amount is deducted in arriving at the adjusted gross income?
Please show work and explain.
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