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In X8, Erin had the following capital gains (losses) from the sale of her investments: $1,500 LTCG, $25,500 STCG, ($8,500) LT

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Answer #1

Net long term capital loss = Long term capital loss - Long term capital gain

= $8,500 - $1,500

= $7,000

Net short term capital gain = Short term capital gain - Short term capital loss

= $25,500 - $14,500

= $11,000

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