Refer to the preceding problem. Determine which of the four cases results in a capital loss carryforward for Mr. and Mrs. Revel. What is the amount and character of each carryforward?

Assume the taxable year is 2018.

Data from Prob. 24

Mr. and Mrs. Revel had $206,200 AGI before considering capital gains and losses. For each of the following cases, compute their AGI:

a. On May 8, they recognized a $8,900 short-term capital gain. On June 25, they recognized a $15,000 long-term capital loss.

b. On February 11, they recognized a $2,100 long-term capital gain. On November 3, they recognized a $1,720 long-term capital loss.

c. On April 2, they recognized a $5,000 long-term capital loss. On September 30, they recognized a $4,800 short-term capital loss.

d. On January 12, they recognized a $5,600 short-term capital loss. On July 5, they recognized a $1,500 long-term capital gain.