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In 2016, Creeper Corporation Had a $4,000 Net Long-Term Capital

Question 89

Multiple Choice

In 2016, Creeper Corporation had a $4,000 net long-term capital loss which it could not carry back. For 2017, it had the following capital transactions: ​
In 2016, Creeper Corporation had a $4,000 net long-term capital loss which it could not carry back. For 2017, it had the following capital transactions: ​   As a result of these transactions, for 2017 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 2018 of $2,000 long-term capital loss. E) None of the above. As a result of these transactions, for 2017 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 2018 of $2,000 long-term capital loss.
E) None of the above.

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