Problem based on long-term capital gain, Accounting Basics

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Problem based on long-term capital gain

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 $9,000 net capital gain.

b. Jenny has a 2012 $18,000 net capital gain.

c. Jenny has a 2012 $9,000 capital loss deduction.

d. Jenny has a 2012 $3,000 capital loss deduction.

e. Jenny has a 2012 $9,000 net capital loss.

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Accounting Basics: Problem based on long-term capital gain

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Accounting Basics: Problem based on long-term capital gain

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