Given Below Are Mario's Capital Gains and Losses for Two

question 99

Short Answer

Given below are Mario's capital gains and losses for two consecutive years.What is the effect of the capital gains and losses on Mario's taxable income for each year?
$$\begin{array} { l r c } & \begin{array} { c } \text { First } \\\underline { \text { Year }}\end{array} & \begin{array} { r } \text { Second } \\\underline { \text { Year }}\end{array} \\\text { Short-term capital gain } & \$ 12,000 & \$ - 0 - \\\text { Long-term capital gain } & 11,000 & 16,000 \\\text { Short-term capital loss } & ( 9,000 ) & ( 2,000 ) \\\text { Long-term capital loss } & ( 23,000 ) & ( 5,000 )\end{array}$$
$\quad { \text { First } }\quad { \text { Second} }$
$\quad \underline{ \text { Year } }\quad \underline{ \text { Year } }$
a. ${ \$ ( 9,000 ) } \quad { \$ 9,000 }$
b. $\$ 3,000 \quad \$ 1,000$
c. $\$ ( 3,000 ) \quad \$ 3,000$
d. $\$ ( 3,000 ) \quad \$ ( 3,000 )$
e. $\$ ( 3,000 ) \quad \$ - 0 -$

---

Definitions:

Identification

Defense mechanism in which a person tries to become like someone else to deal with anxiety.

Oedipus Complex

A psychoanalytic theory in which a child has an unconscious sexual desire for the parent of the opposite sex and hostility toward the same-sex parent.

Freudian Concept

Refers to the theories and ideas proposed by Sigmund Freud that emphasize the influence of the unconscious mind, childhood experiences, and sexuality on personality and behavior.

Anal Stage

A phase in Freudian psychosexual development occurring from approximately 18 months to 3 years, characterized by pleasure in controlling bowel and bladder movements.