Which business expenses are restricted?

Expenses related to a marketing campaign

Expenses incurred before the associated income was earned

Expenses related to commuting between home and a regular place of business

Expenses incurred in a separate geographical location

In the current tax year, a taxpayer sells a painting for $12,000. She purchased the painting two years ago for $8,000. The short-term capital gains rate is 25%. The long-term capital gains rate is 15%. What is the taxpayer's gain for the current tax year?

O $600 short-term capital gain.

O S600 long-term capital gain.

O $1,000 long-term capital gain.

$1,000 short-term capital gain