During the Year Wilbur Has the Following Capital Gains and Losses

question 126

Essay

During the year Wilbur has the following capital gains and losses:
?
$$\begin{array} { l c } \text { Short-term capital gains } & \$ 4,500 \\\text { Short-term capital losses } & ( 6,000 ) \\\text { Long-term capital gains } & 4,200 \\\text { Long-term capital losses } & ( 7,500 )\end{array}$$
What is the effect of the capital gains and losses on Wilbur's taxable income?

---

Definitions:

Union Organizers

Individuals or groups involved in recruiting workers to join or form a labor union to negotiate collectively with their employers for better terms of employment.

Knights of Labor

A 19th-century labor organization in the United States that sought to promote the social and cultural uplift of the workingman, and aimed for an 8-hour workday.

Craft Unions

Labor unions representing workers who have specialized skills or crafts, focusing on improving their members' employment conditions.

Decertification

The process by which a labor union is removed as the representative of a group of workers.