A married couple has a net short-term capital loss of $2,000 and a net long-term capital loss of $3,000 for the year. If the couple has no other gains or losses, what, if anything, carries over to the next year? 1) $2,000 short-term capital loss 2) $2,000 long-term capital loss 3) $2,000 short-term capital loss; $3,000 long-term capital loss O4) $500 short-term capital loss; $1,500 long-term capital loss 5) The couple has no capital loss carryover
A married couple has a net short-term capital loss of $2,000 and a net long-term capital loss of $3,000 for the year. If the couple has no other gains or losses, what, if anything, carries over to the next year? 1) $2,000 short-term capital loss 2) $2,000 long-term capital loss 3) $2,000 short-term capital loss; $3,000 long-term capital loss O4) $500 short-term capital loss; $1,500 long-term capital loss 5) The couple has no capital loss carryover
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:A married couple has a net short-term capital loss of $2,000 and a net long-term
capital loss of $3,000 for the year. If the couple has no other gains or losses, what, if
anything, carries over to the next year?
1) $2,000 short-term capital loss
2) $2,000 long-term capital loss
3) $2,000 short-term capital loss; $3,000 long-term capital loss
4) $500 short-term capital loss; $1,500 long-term capital loss
5) The couple has no capital loss carryover
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