Ophelia had the following capital transactions for the year: Acquired ...
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Accounting
Ophelia had the following capital transactions for the year:
| Acquired | Item | Sold | Selling Price | Cost |
| 9/13/96 | Stock | 7/13/15 | $4,000 | $4,500 |
| 6/20/1991 | Stock | 9/30/15 | $5,000 | $2,000 |
| 7/1/2015 | Stock | 9/30/15 | $1,000 | $1,100 |
In addition, Ophelia has a long-term capital loss carryover from 2014 of $1,800. What is Ophelias 2015 net capital gain? (I believe the answer is D becasue you have 2,500 of Long term capital Gain - 1,800 of Long term capital loss = 700 - 100 short term capital loss = 600. PLEASE EXPLAIN IN WORDS!!!!)
A. $2,400
B. $800
C. $700
D. $600
E. None of the above
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