Serena, a married filing jointly taxpayer, has the following capital gains and losses in 2022: ? $4,000

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Serena, a married filing jointly taxpayer, has the following capital gains and losses in 2022:

? $4,000 short-term capital gain

? $2,000 short-term capital loss

? $2,000 long-term capital gains

? $8,000 long-term capital loss

What is the amount and nature of Serena’s net capital loss carryforward into 2023?

a. $1,000 long-term loss carryforward

b. $3,000 long-term loss carryforward

c. $4,000 long-term loss carryforward

d. $6,000 long-term loss carryforward

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Income Tax Fundamentals 2023

ISBN: 9780357719527

41st Edition

Authors: Gerald E. Whittenburg, Steven Gill

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Question Posted: Feb 28, 2023 05:27 AM

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Serena, a married filing jointly taxpayer, has the following capital gains and losses in 2022: ? $4,000

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Income Tax Fundamentals 2023

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