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Consider the four independent situations below for an unmarried individual, and analyze the effects of the capital gains and losses on the individual's AGI. E:
Consider the four independent situations below for an unmarried individual, and analyze the effects of the capital gains and losses on the individual's AGI. E: (Click the icon to view the four independent cases.) Requirement For each case, determine AGI after considering the capital gains and losses. For each case, determine the net short-term capital gain (NSTCG) or net short-term capital loss (NSTCL), the net long-term capital gain (NLTCG) or net long-term capital loss (NLTCL), and then the AGI after considering the capital gains and losses. (Use a minus sign or parentheses to enter a loss.) Situation 1 Situation 2 Situation 3 Situation 4 NSTCG (NSTCL) Data table Situation 1 Situation 2 Situation 3 Situation 4 $ 100,000 $ 50,000 AGI (excluding property transactions) STCG STCL 55,000 $ 3,000 2,500 40,000 $ 3.500 8,500 6,500 5,500 6,500 22,500 7,000 LTCG 2,500 13,000 14,000 6,500 LTCL 1,000 15,500 3,500 Print Done
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