In 2013,Jenny had a $12,000 net short-term capital loss and deducted $3,000 as a capital loss deduction.In 2014,Jenny has an $18,000 0%/15%/20% long-term capital gain and no other capital gain or loss transactions.Which of the statements below is correct?

Question

Quizplus · Accepted Answer

The 2013 capital loss carryforward is $9,000 ($12,000 2013 net capital loss - 2013 $3,000 capital loss deduction).The $9,000 carries forward as a short-term capital loss and is offset against the 2014 $18,000 long-term capital gain.

In 2013,Jenny Had a $12,000 Net Short-Term Capital Loss and Deducted