In 2012,Jenny Had a $12,000 Net Short-Term Capital Loss and Deducted

question 20

Multiple Choice

In 2012,Jenny had a $12,000 net short-term capital loss and deducted $3,000 as a capital loss deduction.In 2013,Jenny has a $18,000 0%/15%/20% long-term capital gain and no other capital gain or loss transactions.Which of the statements below is correct?

• A)Jenny has a 2013 $18,000 net capital gain.
• B)Jenny has a 2013 $9,000 net capital gain.
• C)Jenny has a 2013 $9,000 net capital loss.
• D)Jenny has a 2013 $3,000 capital loss deduction.
• E)Jenny has a 2013 $9,000 capital loss deduction.

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Definitions:

Operating Data

Information related to the operations of a business, including production volumes, sales, and expenses, used for decision-making and performance evaluation.

Margin

The difference between the selling price of a product and the cost of goods sold, expressed as a percentage of the selling price.

Investment Opportunity

A situation in which an individual or organization has the possibility to invest in something that has the potential to yield financial returns.

Margin

The difference between the selling price of a good or service and its cost, often expressed as a percentage of the selling price.