Becky Best received a long-term capital gain distribution of $350 from her stock in MXM Corporation. She also had a $4,000 short-term capital gain, a $3,000 long-term capital loss and a short-term capital loss carryover from 2011 of $1,200. What is Becky's net capital gain or (loss)?

Question

Quizplus · Accepted Answer

the capital gain distribution of $350 is a long-term capital gain, and with the $3,000 long-term capital loss, she has a net long-term capital loss of $2,650. She has a net short-term capital gain of $2,800 ($4,000 less
$1,200). the refore, she has a net capital gain of $150 ($2,800 less $2,650).

Becky Best Received a Long-Term Capital Gain Distribution of $350