Question

Determine the net effect on Tamara's adjusted gross income with regard to these capital asset transactions that occurred this year.

•	Sold ABCCo stock, acquired 2 years ago, for a $7,100 loss.
•	Sold collectible coins, held for 17 months, for a $9,940 gain.
•	Sold XYZCo shares, acquired 6 months ago, for a $19,880 loss.
•	Sold LMNCo stock, acquired 3 years ago, for a $2,485 gain.

As a result of these transactions, Tamara has a net long-term capital gain  of $ and a short-term capital loss  of $.

Overall, Tamara has a net short-term capital loss  of $.

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Answer 1

SOLUTION

capital assests	holding periods	short/long term capital gain or loss	amount
ABC CO,Stocks	2 years	long term capital loss	7100
collectable coins	17 months	long term capital gains	9940
XYZ Co,Shares	6months	short term capital loss	19880
LMN Co,Stocks	3years	long term capital gains	2485
	total	net long term capital loss	14,555

as a result of these transactions tamara has a net short term capital gains is nill,and

long term capital loss is (7100)

over all tamara has net long term capital loss is (14555)