This Year,Ms

question 91

Multiple Choice

This year,Ms.Kwan recognized a $16,900 net long-term capital loss.Which of the following statements is true?

• A)Ms.Kwan has a $16,900 long-term capital loss carryforward into future years.
• B)Ms.Kwan has a $16,900 nondeductible loss that she can carry back three years and forward five years.
• C)Ms.Kwan can deduct $3,000 of the loss as an itemized deduction.
• D)None of the above is true.

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