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:

Listening

The act of giving attention to sound or action; actively receiving information through auditory means.

DARN Mnemonic

A technique in motivational interviewing that stands for Desire, Ability, Reasons, and Need, used to help clients express motivation to change.

Paraphrasing

The act of rewording or rephrasing text or speech to achieve clearer understanding, often used in communication and counseling.

Simple Reflection

In counseling, a technique where the counselor mirrors back what the client has said, helping the client feel understood and encouraging deeper exploration of their feelings and thoughts.