Refer to problem 71. In the following year, Jawan has the following capital gains and losses:…

Refer to problem 71. In the following year, Jawan has the
following capital gains and losses:

Short-term capital loss                   $1,300

Long-term capital gain                   8,600

Long-term capital loss                    4,100

What is the effect of the capital gains and losses on his
taxable income?

Problem 71

Jawan
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Refer to problem 71. In the following year, Jawan has the
following capital gains and losses:

Short-term capital loss                   $1,300

Long-term capital gain                   8,600

Long-term capital loss                    4,100

What is the effect of the capital gains and losses on his
taxable income?

Problem 71

Jawan has the following capital gains and losses in the
current year:

Short-term capital gain                                  $
500

Short-term capital loss                                   3,000

Long-term capital gain                                   6,000

Long-term capital loss                                12,000

Collectibles gain                                                2,000

What is the effect of the capital gains and losses on
Jawan’s taxable income?

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