Using the Legend Provided, Classify Each Statement Accordingly

Using the legend provided, classify each statement accordingly.
-Excess long-term capital losses are carried forward as short-term capital losses.

A) Applies only to the income taxation of individuals
B) Applies only to the income taxation of C corporations
C) Applies to both the income taxation of individuals and of C corporations
D) Applies to neither the income taxation of individuals nor of C corporations