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.

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Definitions:

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