Seamus Had $16,000 of Net Short-Term Capital Loss in 2013

question 104

Multiple Choice

Seamus had $16,000 of net short-term capital loss in 2013. In 2014, Seamus has $17,000 of long-term capital loss and $26,000 of long-term capital gain. Which of the following statements is correct?

• A) Seamus had a $13,000 short-term capital loss carryover to 2014.
• B) Seamus has an $9,000 2014 net long-term capital gain.
• C) Seamus has a $4,000 2014 net short-term capital loss.
• D) a. and c.
• E) None of the above.

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Definitions:

Functional Operating Teams

Groups within an organization that are organized around specific functions or tasks, designed to contribute efficiently to the company's overall objectives.

Elected Leader

An individual chosen through a democratic process to assume a position of authority and direction over a group.

Groupthink

A psychological phenomenon that occurs within a group of people when the desire for harmony in decision-making results in an irrational or dysfunctional outcome.

Cohesive Group

A group characterized by a strong sense of unity and togetherness, often leading to more effective teamwork.