Question #28: Determing Net Capital Gain or Loss
During the year, Tamara had capital transactions resulting in gains (losses) as follows:
Sold stock in ABC Company (acquired two years ago)	-$1,500
Sold collectible coins (held for more than one year)	$2,000
Sold stock in XYZ Company (acquired six months ago)	-$4,100
Sold stock in LMN Company (acquired three years ago)	$500
Determine Tamara's net capital gain or loss as a result of these transactions.
Step #1 - Determine Long-Term Capital Gain
Input Short-Term amounts from above to determine long-term gain/(loss)
Sold stock in ABC Company (acquired two years ago)
Sold collectible coins (held for more than one year)
Sold stock in XYZ Company (acquired six months ago)
Sold stock in LMN Company (acquired three years ago)
Total Gain / (Loss)
Step #2 - Determine Short-Term Capital Gain
Input Short-Term amounts from above to determine long-term gain/(loss)
Sold stock in ABC Company (acquired two years ago)
Sold collectible coins (held for more than one year)
Sold stock in XYZ Company (acquired six months ago)
Sold stock in LMN Company (acquired three years ago)
Total Gain / (Loss)
Step #3 - Compute Long-Term and Short-Term Gain / (Loss)
Net Capital Gain / (Loss)		Compute the Gain / (Loss)
Explain Tamara's Gain or Loss position at the end of the year, including any deductions and carryover amounts.