Benjamin has the following capital gains and losses for the current year:
Long-term capital loss$(13,000)
Long-term capital gain6,000
Short-term capital loss(10,000)
Short-term capital gain12,000
What is Benjamin's net capital gain or loss for the year?
A. A net long-term capital loss of $7,000
B. A net short-term capital gain of $2,000
C. A net long-term capital loss of $5,000
D. A net short-term capital gain of $1,000
E. A net long-term capital loss of $3,000
Answer: C
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