Joel Has Four Transactions Involving the Sale of Capital Assets

question 22

Multiple Choice

Joel has four transactions involving the sale of capital assets during the year resulting in a STCG of $5,000,a STCL of $12,000,a LTCG of $1,800 and a LTCL of $1,000.As a result of these transactions,Joel will

• A)deduct net losses of $6,200 against ordinary income.
• B)deduct losses of $3,000 against ordinary income and carry $3,200 of STCL forward.
• C)deduct losses of $3,000 against ordinary income and carry $3,200 of LTCL forward.
• D)deduct losses of $3,000 against ordinary income and carry $3,200 of losses back two years.

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Definitions:

Hormones

Chemical messengers produced by the endocrine glands that regulate various bodily functions, including growth, metabolism, and mood.

By the Bloodstream

Refers to the process or means by which substances are transported throughout the body via the circulatory system.

Hormones Transported

The process by which hormones are moved through the bloodstream to target organs or cells in the body.

Environmental Factors

External elements, including social, cultural, and physical elements that influence individuals and their behavior.