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.

---

Definitions:

Brain Development

The process by which the nervous system, including the brain, grows, matures, and learns, starting from before birth and continuing into adulthood.

Heritability

A statistical measure that indicates how much of the variation in a given trait within a population can be attributed to genetic differences among individuals.

Genetic Influences

Genetic influences refer to the impact that the genetic makeup of an individual has on their physical traits, behavior, and susceptibility to certain conditions or diseases.

Wechsler Tests

A series of standardized tests used to measure intelligence and cognitive ability in children and adults.