During the Year, Irv Had the Following Transactions How Are These Transactions Handled for Income Tax Purposes

Essay

During the year, Irv had the following transactions: $\begin{array}{lr}\text { Long-term loss on the sale of business use equipment } & \$ 7,000 \\\text { Long-term loss on the sale of personal use camper } & 6,000 \\\text { Long-term gain on the sale of personal use boat } & 3,000 \\\text { Short-term loss on the sale of stock investment } & 4,000 \\\text { Long-term loss on the sale of land investment } & 5,000\end{array}$ How are these transactions handled for income tax purposes?