During the current year, F, an individual, had long-term capital losses of $2,000 and short-term capital losses of $1,500.If this is the first year F has experienced capital gains or losses, what amount of these losses may F deduct this year?

Question

Quizplus · Accepted Answer

When an individual has both long-term and short-term capital losses, they must first offset any capital gains of the same type. Since F has no capital gains this year, they can deduct up to $3,000 in capital losses ($2,000 long-term + $1,500 short-term). Therefore, the correct answer is option C - $3,000.

During the Current Year, F, an Individual, Had Long-Term Capital