Net Capital Gain Is Defined As

Net capital gain is defined as:

A) the excess of the taxpayer's net long-term capital gains over its net short-term capital losses.
B) the excess of the taxpayer's net short-term capital gains over its net long-term capital losses.
C) the excess of the taxpayer's net long-term capital gains over its net long-term capital losses.
D) none of the above.