Ellie has the following capital gains and losses and qualified dividend income during the current year:

The tax effect of the above is:
A)Long-term gain $3,000;short-term capital loss $10,000,
B)Long-term capital gain $7,000;short-term capital loss $14,000.
C)Collectibles loss $1,000;net short-term capital loss $5,000;qualified dividend income $10,000.
D)Net short-term capital loss $9,000;qualified dividend income $10,000.
E)Net capital loss $3,000,qualified dividend income $10,000.

Question

Ellie has the following capital gains and losses and qualified dividend income during the current year:
​

The tax effect of the above is:
A)Long-term gain $3,000;short-term capital loss $10,000, 
B)Long-term capital gain $7,000;short-term capital loss $14,000. 
C)Collectibles loss $1,000;net short-term capital loss $5,000;qualified dividend income $10,000. 
D)Net short-term capital loss $9,000;qualified dividend income $10,000. 
E)Net capital loss $3,000,qualified dividend income $10,000.

Quizplus · Accepted Answer

The Answer of Ellie has the following capital gains and losses and qualified dividend income during the current year:
​

The tax effect of the above is:
A)Long-term gain $3,000;short-term capital loss $10,000, 
B)Long-term capital gain $7,000;short-term capital loss $14,000. 
C)Collectibles loss $1,000;net short-term capital loss $5,000;qualified dividend income $10,000. 
D)Net short-term capital loss $9,000;qualified dividend income $10,000. 
E)Net capital loss $3,000,qualified dividend income $10,000.

Ellie Has the Following Capital Gains and Losses and Qualified