The Chart Below Details Sheen's 2015, 2016, and 2017 Stock

question 59

Essay

The chart below details Sheen's 2015, 2016, and 2017 stock transactions.What is the capital loss carryover to 2017 and what is the net capital gain or loss for 2017? $$\begin{array} { r r r r r } \text { Tax Year } & \begin{array} { r } \text { Short-term } \\\text { Capital Gains }\end{array} & \begin{array} { r } \text { Short-term } \\\text { Capital Losses }\end{array} & \begin{array} { r } \text { Long-term } \\\text { Capital Gains }\end{array} & \begin{array} { r } \text { Long-term } \\\text { Capital Losses }\end{array} \\2015 & \$ 4,000 & \$ 6,000 & \$ 2,000 & \$ 13,000 \\2016 & \$ 16,000 & \$ 14,000 & \$ 23,000 & \$ 28,000 \\2017 & \$ 55,000 & \$ 52,000 & \$ 67,000 & \$ 33,000\end{array}$$

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Definitions:

Supply

The total amount of a good or service that producers are willing and able to sell at a given price over a specific time period.

Buyers and Sellers

Participants in a market who exchange money for goods or services, where buyers provide the money and sellers provide the goods or services.

Markets

Markets are arenas in which buyers and sellers come together to exchange goods, services, or financial instruments at determined prices.

Equilibrium

A situation in the market where demand matches supply, resulting in steady prices.