Apply Capital Gain And Loss Rules Practice Test

In 2025, Dana (married filing jointly) has $240,000 of taxable income before capital gains and losses. Dana sold stock held 19 months for a $5,000 loss and sold stock held 4 months for a $1,000 gain; Dana also sold investment land held 2 years for a $9,000 gain. What is Dana’s net capital gain/loss for 2025?

In 2025, Riley (single) has $50,000 of taxable income before capital gains and losses. Riley sold stock held 13 months for a $6,000 gain and sold corporate bonds held 9 months for a $2,000 loss; Riley also sold investment real estate held 5 years for a $1,000 loss. What is Riley’s net capital gain/loss for 2025?