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In 2014, Elsie had a $12,000 net short-term capital loss and deducted $3,000 on her return. In 2015, she has an $18,000 long-term capital gain.
In 2014, Elsie had a $12,000 net short-term capital loss and deducted $3,000 on her return. In 2015, she has an $18,000 long-term capital gain. Which of the following statements is correct for 2015?
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Elsie has a long-term capital gain of $18,000 and a short-term carryover to 2016 of $9,000
Elsie has a long-term capital gain of $9,000 and a carryover of $3,000
Elsie has a long-term capital gain of $9,000 and no carryover at all.
Elsie has a short-term capital gain of $9,000 and no carryover at all
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