Capital Losses. 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 $2020$ through $2023.$ No capital loss carryforwards are included in

the figures. For each year, determine AGI and the capital losses to be carried forward to a

later tax year.

$2020202120222023$

AGI $($excluding property

transactions$)$ $$40,000$ $$50,000$ $$60,000$ $$70,000$

STCG $4,0005,0007,00010,000$

STCL $9,0003,0005,00012,000$

LTCG $6,00010,0002,2006,000$

LTCL $5,00021,0001,0009,500$

AGI $($including property

transactions$)$

STCL to be carried forward

LTCL to be carried forward