In 2011, Jenny Had a $12,000 Net Short-Term Capital Loss

question 37

Multiple Choice

In 2011, Jenny had a $12,000 net short-term capital loss and deducted $3,000 as a capital loss deduction.In 2012, Jenny has a $18,000 0%/15% long-term capital gain and no other capital gain or loss transactions.Which of the statements below is correct?

• A)Jenny has a 2012 $18,000 net capital gain.
• B)Jenny has a 2012 $9,000 net capital gain.
• C)Jenny has a 2012 $9,000 net capital loss.
• D)Jenny has a 2012 $3,000 capital loss deduction.
• E)Jenny has a 2012 $9,000 capital loss deduction.

---

Definitions:

Civil Rights Initiatives

Programs, policies, or legislative actions aimed at ensuring and improving legal rights and social quality for all, particularly for marginalized groups.

American Sentiment

Refers to the collective attitudes, feelings, or opinions of the American people, often in the context of patriotism or national issues.

Truman Administration

The period of U.S. presidency under Harry S. Truman, from 1945 to 1953, notable for its implementation of the Marshall Plan, the establishment of NATO, and the beginning of the Cold War.

Berlin Airlift

A military operation in 1948-1949 where Western allies supplied West Berlin by air during the Soviet blockade.