To better understand the rules for offsetting capital losses and how to treat ca

Question

To better understand the rules for offsetting capital losses and how to treat capital losses carried forward, analyze the following data for an unmarried individual for the period 2014 through 2017. No capital loss carryforward s are included in the figures. Requirement For each year, determine AGI and the capital losses to be carried forward to a later tax year. (If a box is not used in the table leave the box empty; do not enter a zero. Enter loss amounts as a positive number.) 2014 2015 2016 2017 AGI (excluding property 48,000 $ transactions) STCG STCL LTCG LTCL AGI (including property 2,250 10,500 8,250 4,750 5,500 1,750 8,500 20,000 58,000 $ 68,000 $78,000 8,000 7,000 5,200 4,500 13,000 13,500 4,000 11,500 transactions) STCL to be carried forward LTCL to be carried forward

Explanation / Answer

AGI (Including Property Transaction)

51500

(48000+8250-4750)

58000

68000

78000

STCL To be Carried Forward

8250

(10500-2250)

4500

(8250+1700-5500)

3500

(4500+7000-8000)

4000

(3500+13500-13000)

11500

(20000-8500

10800

(11500+4500-5200)

18300

(10800+11500-4000)

2014 2015 2016 2017 AGI (Including Property Transaction0 48000 58000 68000 78000 STCG 2250 5500 8000 13000 STCL 10500 1750 7000 13500 LTCG 8250 8500 5200 4000 LTCL 4750 20000 4500 11500

AGI (Including Property Transaction)

51500

(48000+8250-4750)

58000

68000

78000

STCL To be Carried Forward

8250

(10500-2250)

4500

(8250+1700-5500)

3500

(4500+7000-8000)

4000

(3500+13500-13000)

LTCL To be Carried Forward 0

11500

(20000-8500

10800

(11500+4500-5200)

18300

(10800+11500-4000)

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