For the 2013 tax year,Morgan had $25,000 of ordinary income.In addition,he had an $1,800 long-term capital loss and a $1,500 short-term capital loss.What will be the amount of Morgan's capital loss carryforward to 2014?

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Morgan can offset his capital losses against his ordinary income up to $3,000. His total capital loss is $3,300 ($1,800 long-term + $1,500 short-term). After offsetting $3,000 against his ordinary income, he has a $300 capital loss carryforward to 2014.

For the 2013 Tax Year,Morgan Had $25,000 of Ordinary Income