Part IV: Netting Process Short-term Capital Gains Long-term Capital Gain (LTCG) and Loss Carry-overs Collectibles Unrecaptured Net Sec. 1231 Gain Other Long- $ 1250 Gain term capital gain Net the Short-term Capital Amount from Part III, Net Gain or Losses above = Part II, 4(c) LTCG, excluding Collectibles Amount from Part II, 4(b) Use the above amount to net against Collectibles, Unrecaptured Sec. 1250 Gain, LTCG, etc. on the right Net Capital Gain