Step 2. Net the $4,000 Section 1231 gain with the long-term capital gains and losses; the result is a net $1,000 long-term capital gain ($4,000 + $4,000 - $7,000). Step 3. The $3,000 short-term capital gain is netted with the $6,000 short-term capital loss; the result is a net $3,000 short-term capital loss.
Along with musical centers such as Philadelphia, Seattle, Portland, New York City, San Francisco, New Orleans, Detroit, Minneapolis, Chicago, Miami, Atlanta, Nashville, Austin, and Los Angeles, many smaller cities such as Asbury Park, New Jersey have produced distinctive styles of music.
The United States has the world's largest music market with a total retail value of 4,481.8 million dollars in 2012, and its music is heard around the world. Since the beginning of the 20th century, some Forms of American popular music have gained a near global audience.