In 2012,Jenny had a $12,000 net short-term capital loss and deducted $3,000 as a capital loss deduction.In 2013,Jenny has a $18,000 0%/15%/20% long-term capital gain and no other capital gain or loss transactions.Which of the statements below is correct?

Question

Quizplus · Accepted Answer

In 2012, Jenny had a $12,000 net capital loss but was only able to deduct $3,000 as a capital loss deduction. This leaves a carryover of $9,000 in capital loss to 2013. In 2013, Jenny had a $18,000 long-term capital gain, but since she has a $9,000 capital loss carryover from the previous year, her net capital gain for 2013 is only $9,000.

In 2012,Jenny Had a $12,000 Net Short-Term Capital Loss and Deducted