In X8, Erin had the following capital gains (losses) from the sale of her investments: $2,000 LTCG, $25,000 STCG, ($9,000) LTCL, and ($15,000) STCL. What is the amount and nature of Erin's capital gains and losses?
A) $3,000 net short-term capital gain
B) $3,000 net long-term capital loss
C) $4,000 net short-term capital gain
D) $4,000 net long-term capital loss
E) None of the above
Correct Answer:
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