Madison,a Calendar Year Individual Taxpayer,has the Following Results for 2016

Madison,a calendar year individual taxpayer,has the following results for 2016: profit from operations of $200,000 and long-term capital loss from investments of $20,000.As to the capital loss,Madison may:

A) Carry back the loss for three years to offset any capital gains.
B) Deduct $3,000 and carry forward $17,000 for five years as a long-term capital loss.
C) Deduct $3,000 and carry forward $17,000 indefinitely as a long-term capital loss.
D) Deduct $3,000 and carry forward $17,000 indefinitely as a short-term capital loss.
E) None of the above.