In 2017,Camilo had a net capital loss of $5,650 and taxable income of $110,000.What is Camilo's loss carryforward to 2018?
A)$2,650.
B)$5,650.
C)$0.
D)$3,000.

Name: In 2017,Camilo had a net capital loss of $5,650 and taxable income of $110,000.What is Camilo's loss carryforward to 2018? A)$2,650. B)$5,650. C)$0. D)$3,000.
Brand: Quizplus
Rating: 4.7 (35 reviews)

Question

Quizplus · Accepted Answer

Camilo can deduct up to $3,000 of the net capital loss against his taxable income in 2017. The remaining $2,650 ($5,650 - $3,000) can be carried forward to 2018.

In 2017,Camilo Had a Net Capital Loss of $5,650 and Taxable