James, a cash-basis taxpayer, sells the following marketable securities, which are capital assets during 2017.
(Click the icon to view the marketable securities.)
Determine whether the gains or losses are long-term or short-term. Also determine the net capital gain and adjusted net capital gain for 2017. (Use parentheses or a minus sign for loss amounts.)
Capital Gain/(loss)
Asset Amount
Long-term or short-term
capital gain/loss
A
B
C
Capital
Asset
Basis
Date
Acquired
Trade Date
in 2017
Sales
Price
James's 2017 net capital gain is $
and his adjusted net capital gain is
A
$ 48,000 Feb. 10, 2016 Aug. 12 $ 58,000
B
32,000 Dec. 5, 2016 May 2 18,000
C
25,000 Apr. 9, 2015 Dec. 10 38,400
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