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#3e Charu Khanna received a Form 1099-B showing the following stock transactions and basis during 2015.
Stock Date Purchased Date Sold $sales Price $Cost Basis
4,000 shares Green Co. 6/4/04 8/5/15 12,000 3,000
500 shares Gold Co. 2/12/15 9/5/15 54,000 62,000
5,000 shares Blue Co. 2/4/05 10/8/15 18,000 22,000
100 shares Orange Co. 11/15/14 7/12/15 19,000 18,000

What is the net capital result of the 2015 transactions?
A. $1,000 long-term capital gain
B. $8,000 short-term capital loss
C. None of the choices
D. $5,000 long-term capital gain
E. $7,000 short-term capital loss
F. $2,000 short-term capital loss
 
I keep getting 6,000 long-term gain, what am I doing wrong?
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1 Answer

Stop guessing and show how you got the result. Then you can get some help.
 
Green and blue are long-term net gain of $5,000 = D
Gold and Orange are short-term net loss $7,000 = E