Coretta sold the following securities during 2014: What is Coretta's net capital gain or loss result for the year?

Question

Coretta sold the following securities during 2014:  What is Coretta's net capital gain or loss result for the year?

Quizplus · Accepted Answer

Based on the information provided in the security sales form, Coretta has a total long-term capital gain of $27,000 and a total long-term capital loss of $12,000. This results in a net long-term capital gain of $15,000. She also has a total short-term capital loss of $3,000. Therefore, the net capital gain for the year is $12,000 ($15,000 - $3,000) and it is classified as an ANCG (net capital gain).

Coretta Sold the Following Securities During 2014: What Is