# In 2014, Rosalva sold stock considered short-term for a gain of $1,290 and stock considered... ## Question: In 2014, Rosalva sold stock considered short-term for a gain of$1,290 and stock considered long-term for a loss of $3,680. She also had a$3,770 short-term loss carryover from 2013 and a $1,295 long-term loss carryover from 2013. a.What amount will be shown as a short-term gain (loss) for 2014? b.What amount will be shown as a long-term gain (loss) for 2014? c.How much of the loss is deductible in 2014? d.What is the amount of long term carryover to 2015? ## Long-term loss: The investment or the assets which have been held for more than a year and if the loss occurs on that investment or asset then we call it the long-term loss. ## Answer and Explanation: a) What amount will be shown as a short-term gain (loss) for 2014? short-term gain (loss) = Short term loss carryover from 2013 - Gain from 2014 =$3,770 - $1,290 =$2,480 (Its a short-term loss)

b) b. What amount will be shown as a long-term gain (loss) for 2014?

long-term gain (loss) for 2014 = Loss carryover from 2013 + loss in 2014

= $1,295 +$3,680

= \$3,975 ( its a long term loss for 2014) 