Joel has four transactions involving the sale of capital assets during the year resulting in a STCG of $5,000, a STCL of $12,000, a LTCG of $1,800 and a LTCL of $1,000. As a result of these transactions, Joel will

a. deduct net losses of $6,200 against ordinary income.

b. deduct losses of $3,000 against ordinary income and carry $3,200 of STCL forward.

c. deduct losses of $3,000 against ordinary income and carry $3,200 of losses back two years.

d. deduct losses of $3,000 against ordinary income and carry $3,200 of LTCL forward.