In the current year, Sarah earned $100,000 in salary and incurred a $1,000 capital loss. In what way can she use her capital loss to reduce tax payable? 

A)She can carry the capital loss forward and deduct it from future capital gains. 

B)She can carry the capital loss back 3 years and deduct it from capital gains realized in any one of those years. She can deduct the capital loss from her salary in the current year.

Answer rating: 100% (QA)

The detailed answer for the above question is provided below The correct answer is A She can carry t... View the full answer