[LO 8.2 & 8.3] An individual taxpayer has the following gains and losses from property transactions. What is the effect on the taxpayer's taxable income? $ 4,000 Long-term capital gain 7,000 O Long-term capital loss 10,000 Section 1231 gain 6,000 Section 1231 loss 3,000 Short-term capital gain 6,000 Short-term capital loss