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.
Correct Answer:
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