Seamus Had $16,000 of Net Short-Term Capital Loss in 2011

question 106

Multiple Choice

Seamus had $16,000 of net short-term capital loss in 2011. In 2012, Seamus has $17,000 of long-term capital loss and $26,000 of long-term capital gain. Which of the following statements is correct?

• A)Seamus had a $13,000 short-term capital loss carryover to 2012.
• B)Seamus has an $9,000 2012 net long-term capital gain.
• C)Seamus has a $4,000 2012 net short-term capital loss.
• D)a.and c.
• E)None of the above.

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Definitions:

Loving Concern

An emotional state characterized by caring, empathy, and compassion towards others, often regardless of the personal cost.

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The feeling of fulfillment or happiness one experiences when emotional needs or desires are met.

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An imagined sequence of sexual events or scenarios created and played out in one's mind, often serving as a form of mental arousal or exploration of desires.

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A steroid hormone associated with the development of male secondary sexual characteristics, as well as playing a role in the biological function of females.