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In 2015,Creeper Corporation Had a $4,000 Net Long-Term Capital Loss

Question 84

Multiple Choice

In 2015,Creeper Corporation had a $4,000 net long-term capital loss which it could not carry back.For 2016,it had the following capital transactions:
Long-term capital gain
$2,000
Short-term capital gain
3,000

As a result of these transactions,for 2016 Creeper has a:


A) Net short-term capital gain of $1,000.
B) Net short-term capital gain of $3,000.
C) Net long-term capital gain of $1,000.
D) Carryover to 2017 of $2,000 long-term capital loss.
E) None of the above.

Correct Answer:

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