An individual taxpayer has the gains and losses shown below. There are $4,000 of 1231 lookback losses. What is the net long-term capital gain? What is the net ordinary gain? Holding Period/Property Character of Gain or Loss Amount 5 years/vacant land 1231 gain $6,000 2 years/business equipment 1245 gain 4.800 3 years/publicly traded stock Long-term capital gain 950 8 months/publicly traded stock Short-term capital loss (2,190)