Scott Bean is a computer programmer and incurred the following transactions last year. 
*Purchased when originally issued by Provo City
What is the Net Short-Term Capital Gain/Loss reported on the 2016 Schedule D? What is the Net Long-Term Capital Gain/Loss reported on the 2016 Schedule D? What amount of capital gain is subject to the preferential capital gains rate?
Definitions:
True Lease
A leasing arrangement where the lessor retains substantial risks and rewards of ownership of the leased asset.
Down Payments
Initial payments made when purchasing costly items on credit, representing a fraction of the purchase price.
Lessees
Individuals or entities that obtain the right to use and control a leased asset for a specified period in exchange for payment to the lessor.
Borrow Money
The act of obtaining funds from another party with the promise to return the principal amount along with agreed upon interest.
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