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RD
RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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Mark has four transactions involving the sale of capital assets

Customer Question

Mark has four transactions involving the sale of capital assets during the year resulting in a Short-Term Capital Gain of $1,000, a Short-Term Capital Loss of $5,000, a Long-Term Capital Gain of $1,000 and a Long-Term Capital Loss of $2,000. As a result of these transactions, Mark's net capital loss for the year is:



a. Net short-term capital loss of $5,000.

b. Net long-term capital loss of $5,000.

c. Net long-term capital loss of $1,000 and net short-term capital loss of $4,000.

d. Net capital gain of $2,000 and net capital loss of $7,000.
Submitted: 5 years ago.
Category: Tax
Expert:  RD replied 5 years ago.

RD :

c. Net long-term capital loss of $1,000 and net short-term capital loss of $4,000.

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