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Exercise 14-30 (Algorithmic) (LO. 5) Elliott has the following capital gain and loss transactions for 2021. a. Short-term capital gain $5,600 b. Short-term capital loss
Exercise 14-30 (Algorithmic) (LO. 5) Elliott has the following capital gain and loss transactions for 2021. a. Short-term capital gain $5,600 b. Short-term capital loss (13,440) c. Long-term capital gain (28%) 44,800 d. Long-term capital gain (25%) 17,920 e. Long-term capital gain (15%) 22,400 f. Long-term capital loss (28%) (17,920) g. Long-term capital loss (15%) (33,600) After the capital gain and loss netting process, what is the amount and character of Elliott's gain or loss? Elliott has an overall net long-term capital gain of $ 63,840 X
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