During 2012, Greta Gibson Recognizes a $2,000 Short-Term Capital Gain

question 60

Multiple Choice

During 2012, Greta Gibson recognizes a $2,000 short-term capital gain, a $6,000 short-term capital loss, a $20,000 long-term capital gain, and a $7,000 long-term capital loss. Greta's net capital gain is:

• A) $9,000.
• B) $13,000.
• C) $14,000.
• D) $16,000.

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Definitions:

Terms

Conditions under which a sale is made, including payment timeframe, discounts, and penalties for late payment.

Discount

A reduction from the usual cost of something, or the act of lowering the price of goods, services, or securities.

Day

A 24-hour period from midnight to midnight.

Income

The money received, especially on a regular basis, for work or through investments.