Alan Has the Following Capital Gains and Losses During the Current

Multiple Choice

Alan has the following capital gains and losses during the current year:
Alan's capital gain/loss position for the year is:
$\begin{array}{lc}\text { Short-term capital loss } & \$(4,000) \\\text { Collectibles gain } & 3,000 \\\text { Long-term capital gain } & 8,000\end{array}$

A) Long-term gain $8,000; short-term capital loss $1,000.
B) Net long-term capital gain $7,000.
C) Short-term capital loss $4,000; long-term capital gain $11,000
D) Collectibles gain $3,000; long-term capital gain $4,000