Kendrick, who has a 35% marginal tax rate, had the following results from transactions during the year: Collectibles gain $20,000 Short-term capital loss 4,000 Long-term capital gain 8,000

Kendrick, who has a 35% marginal tax rate, had the following results from transactions during the year: Collectibles gain $20,000 Short-term capital loss 4,000 Long-term capital gain 8,000

Kendrick, who has a 35% marginal tax rate, had the following results from transactions during the year:
Collectibles gain $20,000
Short-term capital loss 4,000
Long-term capital gain 8,000


After offsetting the STCL, what is (are) the resulting gain(s)?
A) $16,000 collectibles gain, $8,000 LTCG
B) $20,000 collectibles gain, $4,000 LTCG
C) $24,000 LTCG
D) $20,000 collectibles gain, $8,000 LTCG



Answer: A