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Here are 10 different tax situations regarding netting of capital gains and losses. Please compute the overall net gain or loss and identify it as
Here are 10 different tax situations regarding netting of capital gains and losses. Please compute the overall net gain or loss and identify it as net long-term capital gain (NLTCG), net long-term capital loss (NLTCL), net short-term capital gain (NSTCG), or net short-term capital loss (NSTCL). The first one is completed as an example.
Taxpayer | LTCG$ | LTCL $ | STCG $ | STCL $ | Net $ | Classification |
A | 1,000 | (2,800) | 1,000 | (500) | (1,300) | NLTCL |
B | 2,800 | (1,000) | 500 | (1,000) | ||
C | 10,000 | (15,000) | 15,000 | (18,000) | ||
D | 5,000 | 0 | 0 | (6,000) | ||
E | 7,500 | (500) | 2,500 | (3,000) | ||
F | 0 | (750) | 1,000 | (200) | ||
G | 11,000 | (12,000) | 13,000 | 0 | ||
H | 6,000 | (7,500) | 6,000 | (5,000) | ||
I | 16,000 | (3,000) | 5,000 | (8,000) | ||
J | 9,500 | (10,500) | 18,000 | (13,000) |
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