William has the following capital gains and losses for the current year:
$$\begin{array} { l r }
\text { Short-term capital gain } & \$ 10,000 \
\text { Short-term capital loss } & ( 3,000 ) \
\text { Long-term capital gain } & 5,000
\end{array}$$
What is William's net capital gain or loss position for the year?
A)Short-term capital gain $7,000; Long-term capital gain $5,000.
B)Short-term capital gain $10,000; Long-term capital gain $2,000.
C)Short-term capital gain $7,000; Long-term capital gain $2,000.
D)Short-term capital gain $10,000; Long-term capital gain $5,000

Question

William has the following capital gains and losses for the current year:
$$\begin{array} { l r } 
\text { Short-term capital gain } & \$ 10,000 \
\text { Short-term capital loss } & ( 3,000 ) \
\text { Long-term capital gain } & 5,000
\end{array}$$
What is William's net capital gain or loss position for the year?
A)Short-term capital gain $7,000; Long-term capital gain $5,000.
B)Short-term capital gain $10,000; Long-term capital gain $2,000.
C)Short-term capital gain $7,000; Long-term capital gain $2,000.
D)Short-term capital gain $10,000; Long-term capital gain $5,000

Quizplus · Accepted Answer

The Answer of William has the following capital gains and losses for the current year:
$$\begin{array} { l r } 
\text { Short-term capital gain } & \$ 10,000 \
\text { Short-term capital loss } & ( 3,000 ) \
\text { Long-term capital gain } & 5,000
\end{array}$$
What is William's net capital gain or loss position for the year?
A)Short-term capital gain $7,000; Long-term capital gain $5,000.
B)Short-term capital gain $10,000; Long-term capital gain $2,000.
C)Short-term capital gain $7,000; Long-term capital gain $2,000.
D)Short-term capital gain $10,000; Long-term capital gain $5,000

William Has the Following Capital Gains and Losses for the Current