Lindsays sale of capital assets resulted in the following:

Short-term Capital Gains $11,000

Short-term Capital Losses $8,000

Long-term Capital Gains $12,000

Long-term Capital Losses $7,000

Determine the tax treatment of Lindsays transactions?

	a.	Each of the four categories is taxed separately.
	b.	Short-term Capital Gains of $3,000; Long-term Capital Gains of $5,000
	c.	Long-term Capital Gains of $23,000; Short-term Capital Losses of $15,000
	d.	Net Long-term Capital Gains of $8,000