Johnny's sale of capital assets resulted in the following: Determine the tax treatment of Johnny's...
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Johnny's sale of capital assets resulted in the following: Determine the tax treatment of Johnny's transactions. a. Each of the four categories is taxed separately. b. Short-term capital gains of $10,000; long-term capital losses of $5,000 c. Short-term capital gains of $17,000; long-term capital losses of $12,000 d. Net Short-term capital gains of $5,000
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