In 2016, Jenny Had a $12,000 Net Short-Term Capital Loss

question 71

Multiple Choice

In 2016, Jenny had a $12,000 net short-term capital loss and deducted $3,000 as a capital loss deduction. In 2017, Jenny has a $18,000 0%/15%/20% long-term capital gain and no other capital gain or loss transactions. Which of the statements below is correct for 2017?

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

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Definitions:

Wrapper Classes

In Java, classes that provide a way to use primitive data types (int, char, etc.) as objects.

Primitive Types

Basic data types provided by a programming language as built-in types, such as int, float, and boolean in Java, representing simple values.

String Class

A class in Java used to create and manipulate sequences of characters.

Mutable Class

A type of class in programming whose instances can be modified after they are created.