During the year, hernando has the following transactions:
gain on the sale of stock held as an investment for 10 months.
gain on the sale of land held as an investment for 4 years.
gain on the sale of a houseboat owned for 2 years and used for family vacations.
loss on the sale of a reconditioned motorcycle owned for 3 years and used for recreational purposes.
how should hernando treat these transactions for income tax purposes?