Carlos provides you with the following information for years 1 and 2, exclusive of capital loss carryovers:
STCG STCL LTCG LTCL
Year 1 0 $2,400 $400 $3,500
Year 2 $500 $ 700 $900 $1,000
Determine the amount and type of capital loss deduction each year, if any, and the carryover to the following year.

Question

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The Answer of Carlos provides you with the following information for years 1 and 2, exclusive of capital loss carryovers:
STCG STCL LTCG LTCL
Year 1 0 $2,400 $400 $3,500
Year 2 $500 $ 700 $900 $1,000
Determine the amount and type of capital loss deduction each year, if any, and the carryover to the following year.

Carlos Provides You with the Following Information for Years 1