This posting addresses capital gains and losses.
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In 20X8, 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?
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Solution Summary
The solution provides the correct answer and calculation for calculating Erin's capital gains and losses.
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Long term
2,000-9,000 = -7,000 LTCL
Short term
25,000-15,000 = 10,000 STCG
Erin will ...
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