Capital Gains and Losses (LO. 4) Troy has the following gains and losses from sales of capital assets during the current year. Short-term capital gain $7,800 Short-term capital loss 9,000 Long-term capital gain 5,400 Long-term capital loss 2,100 What is the effect of the capital asset transactions on his taxable income? Troy has a net short-term capital net capital of s and a net long-term capital which results in an avera of D