Milton has the following transactions related to his investments and his business during 2016: 
a.Determine the amount and character of each gain or loss.
b.Determine the effect of the gains and losses on Milton's 2014 adjusted gross income. You must present the calculations in proper form to receive full credit.
Definitions:
James-Lange Theory
A theory of emotion suggesting that physiological arousal precedes the experience of emotion, thus emotions are the result of the interpretation of bodily responses.
Trembling
Involuntary shaking, quivering, or trembling movements, often resulting from fear, excitement, cold, or weakness.
Afraid
Experiencing fear or apprehension.
James-Lange Theory
A theory of emotion suggesting that physiological arousal precedes the experiencing of emotions.
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