Coline has the following capital gain and loss transactions for 2019. Short-term capital gain...................................$ 5,000 Short-term capital

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Coline has the following capital gain and loss transactions for 2019.

Short-term capital gain...................................$ 5,000
Short-term capital loss....................................(2,100)
Long-term capital gain (28%)............................6,000
Long-term capital gain (15%)............................2,000
Long-term capital loss (28%)........................(10,500)

After the capital gain and loss netting process, what is the amount and character of Coline’s gain or loss?

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South-Western Federal Taxation 2020 Comprehensive

ISBN: 9780357109144

43rd Edition

Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman

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