In California, capital losses are deductible in full against capital gains with excess capital losses deductible against ordinary income up to $3,000 ($1,500 for married taxpayers filing separately) per year. Any unused capital losses may be carried forward _____to offset capital gains and ordinary income to the extent of the limitations noted above.

Select one:

a. Indefinitely

b. 2 years

c. 20 years

d. 5 years