MUESTION4 Which of the following are true statements about capital gains? Check all that apply Long-term capital gains are taxed at favorable rates compared to ordinary income. lf a client has taken large capital losses, taking gains might be a good strategy, in order to use the losses in excess of $3,000 in the current year Short-term capital gains are taxed at the taxpayer's ordinary rates The long-term capital gains rate is 20% for everyone