Reference no: EM132671089
Problem - Elliott has the following capital gain and loss transactions for 2019.
Short-term capital gain $1,500
Short-term capital loss (3,600)
Long-term capital gain (28%) 12,000
Long-term capital gain (25%) 4,800
Long-term capital gain (15%) 6,000
Long-term capital loss (28%) (4,500)
Long-term capital loss (15%) (9,000)
After the capital gain and loss netting process, what is the amount and character of Elliott's gain or loss?