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Erin had the following capital gains (losses) from the sale of her investments: $2,000 Long Term Capital Gain, $25,000 Short Term Capital Gain, ($9,000) Long

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Erin had the following capital gains (losses) from the sale of her investments: $2,000 Long Term Capital Gain, $25,000 Short Term Capital Gain, ($9,000) Long Term Capital Loss, and ($15,000) Short Term Capital Loss. What is the amount and nature of Erin's capital gains and losses? A. $3,000 net short-term capital gain B. $3,000 net long-term capital loss C. $4,000 net short-term capital gain D. $4,000 net long-term capital loss E. None of the above Brittany sold her stock (basis of $50,000 ) to her brother, Ridge, for $35,000, the fair market value. Her brother subsequently sells the stock to the third party for $53,000. What is Ridge's recognized gain or (loss)? A. $15,000 B. $3,000 C. $0 D. ($15,000) E. ($3,000)

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