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Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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I have short term capital gains of 6,000, a short term capital

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I have short term capital gains of 6,000, a short term capital loss of 7,000, a long term capital gain of 8,000 and a long term capital loss of 5,000. What is my result? DO I have a 2,000 net long term capital gain? Or loss? Can a tax expert answer. Thank You
Submitted: 6 years ago.
Category: Tax
Expert:  Merlo replied 6 years ago.
Hello Morris,

That is correct. You have a $2,000 net long term capital gain.

To figure you net capital gains and or losses, you combine the total of your short term gains and/or losses with your long term gains and/or losses. In the case you presented, you end up with a net long term gain of $2,000.

If this was helpful please press the Accept button.

Thank you Morris

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