Problem 3-50 (a) (LO. 6, 8)

During the year, Shanta recorded the following transactions involving capital assets.

Indicate the tax treatment for each item:

Transaction		Amount		Tax Treatment
Loss on the sale of a coin collection (held as an investment for 10 years)		($15,000)
Gain on the sale of a personal vehicle (purchased six months ago)		1,000
Gain on the sale of corporate stock (purchased two years ago as an investment)		11,000
Loss on the sale of a personal sail boat (acquired three years ago)		(3,200)

Overall, Shanta has of $ and of $.