Andy Has the Following Capital Gains and Losses During the Current

question 104

Multiple Choice

Andy has the following capital gains and losses during the current year:
$\begin{array}{lc}\text { Short-term capital gain } &\$ 4,000 \\\text { Short-term capital loss } &(9,000) \\\text { Collectibles loss } &(2,000) \\\text { Long-term capital gain } &1,000\end{array}$
Andy's capital gains and losses will

• A)Increase taxable income by $2,000.
• B)Decrease taxable income by $6,000.
• C)Decrease taxable income by $3,000.
• D)Decrease taxable income by $4,000.