Given below question: Christina had a $12,000 gain on the sale of stock purchased three years ago,

a $4,000 loss on selling stock she had only owned for 3 months, a $5,000 loss on the sale of her personal use auto, and a $5,000 loss from the sale of land used in her business (owned for six years). Chris had no other property transactions this year. What will be the net effect of these transactions on Chris’ tax return, in terms of gains and/or losses?

Can you please advise if my calculation is accurate?

 Long Term capital gain  $ 12,000.00

Short Term capital loss   $ (4,000.00)

Loss of personal use auto   $            –  

Loss from the sale of land   $ (5,000.00)    

Gain/loss   $  3,000.00

Christina needs to report a capital gain of $ 3,000

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