Question
In X8, Erin had the following capital gains (losses) from the sale of her investments: $2,000 LTCG, $25,000 STCG, ($9,000) LTCL, and ($15,000) STCL. What
In X8, Erin had the following capital gains (losses) from the sale of her investments: $2,000 LTCG, $25,000 STCG, ($9,000) LTCL, and ($15,000) STCL. 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 these |
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Integrated Audit Practice Case
Authors: David S. Kerr, Randal J. Elder, Alvin A. Arena
6th Edition
0912503564, 9780912503561
