In the Current Year, Norris, an Individual, Has $58,000 of Ordinary

question 43

Multiple Choice

In the current year, Norris, an individual, has $58,000 of ordinary income, a net short-term capital loss (NSTCL) of $9,200 and a net long-term capital gain (NLTCG) of $3,600. From his capital gains and losses, Norris reports:

• A)an offset against ordinary income of $9,200.
• B)an offset against ordinary income of $3,000 and an NSTCL carryforward of $6,200.
• C)an offset against ordinary income of $3,600 and an NSTCL carryforward of $5,600.
• D)an offset against ordinary income of $3,000 and an NSTCL carryforward of $5,600.
• E)an offset against ordinary income of $3,000 and an NSTCL carryforward of $2,600.