In 2014, Mark has $18,000 short-term capital loss, $7,000 28% gain, and $6,000 0%/15%/20% gain. Which of the statements below is correct?

Question

Quizplus · Accepted Answer

Mark can use up to $3,000 of the short-term capital loss to offset ordinary income. The remaining $15,000 of short-term capital loss will carry forward to future years. 
The net long-term capital gain is $7,000 + $6,000 = $13,000. 
Therefore, Mark's taxable capital gain is $13,000 - $3,000 = $10,000.

In 2014, Mark Has $18,000 Short-Term Capital Loss, $7,000 28