Question
Mr. Green had the following capital transactions in 2015: Date Acquired Cost Date Sold Selling Price 01/13/14 $ 4,500 01/10/15 $ 8,000 05/10/12 $ 3,000
Mr. Green had the following capital transactions in 2015:
| Date Acquired | Cost | Date Sold | Selling Price |
| 01/13/14 | $ 4,500 | 01/10/15 | $ 8,000 |
| 05/10/12 | $ 3,000 | 02/25/15 | $ 4,000 |
| 08/09/14 | $ 38,000 | 07/06/15 | $ 45,000 |
| 01/17/15 | $ 6,000 | 11/16/15 | $ 2,000 |
| 07/10/12 | $ 1,500 | 12/20/15 | $ 5,500 |
Required:
What is Mr. Greens net long term capital gain or loss?
What is Mr. Greens net short term gain or loss?
What is his net capital gain or loss? How will it affect his taxable income?
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Survey of Accounting
Authors: Carl S Warren
5th Edition
9780538489737, 538749091, 538489731, 978-0538749091
