In Addition to His Salary, Peter Realizes a $1,000 Short-Term

question 43

Multiple Choice

In addition to his salary, Peter realizes a $1,000 short-term capital gain and a $5,000 long-term capital loss. The net effect of the capital asset transactions on Peter's adjusted gross income is

• A)$-0-
• B)$1,000
• C)$(3,000)
• D)$(4,000)
• E)$(5,000)