A customer in the 28% tax bracket has $4,000 of capital gains and $12,000 of capital losses. How much unused loss is carried forward to the next tax year?
A. 0
B. $3,000
C. $5,000
D. $8,000
Answer: C. $5,000
Analysis MCQ
Intro to Taxation
A customer in the 28% tax bracket has $4,000 of capital gains and $12,000 of capital losses. How much unused loss is carried forward to the next tax year?