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Annabel9554
Annabel9554
09.12.2021 • 
Business

The following facts apply to Eliot, an individual, in the current year: April 1 – Sold shares of stock, purchased on April 1 of the previous year, for a $2,000 gain May 15 – Sold equipment used in Eliot’s business, which had been purchased in July of the previous year, for a $2,000 gain. July 12 – Sold shares of stock, purchased in February of the previous year, for a $7,000 gain. November 3 – Sold equipment used in Eliot’s business, which had been purchased in January of the current year, for a $1,000 loss. December 9 – Sold shares of stock, purchased on February 22 of the current year, for a $3,000 loss. Considering only the above facts, what is Eliot’s net capital gain or loss for the current year?

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