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What is the effect on the taxpayers taxable income

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Question 1: An individual taxpayer has the following gains and losses from property transactions. What is the effect on the taxpayer's taxable income?

$4000 Long-term capital gain

7,000 Long-term capital loss

10,000 Section 1231 gain

6000 Section 1231 loss

3,000 Short-term capital gain

6,000 Short-term capital loss

Reference no: EM132498862

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