Chen Had the Following Capital Asset Transactions During 2016 What Is the Adjusted Net Capital Gain or Loss and

question 25

Essay

Chen had the following capital asset transactions during 2016:
$\begin{array}{lcccc}&\text { Date acquired}&\text { Date sold}&\text { Basis}&\text { Sales Price}\\\text { Sydney stock } & 2 / 5 / 2011 & 3 / 2 / 2016 & \$ 5,000 & \$ 7,000 \\\text { Lawrence stock } & 4 / 2 / 2013 & 5 / 1 / 2016 & 10,000 & 14,500 \\\text { Collectibles } & 9 / 1 / 2014 & 9 / 1 / 2016 & 300 & 1,000 \\\text { Autumnstock } & 1 / 2 / 2016 & 8 / 1 / 2016 & 6.700 & 5,500\end{array}$
What is the adjusted net capital gain or loss and the related tax due to the above transactions, assuming Chen has a 25% marginal tax rate?