MCQ$-08460$

A corporate taxpayer's capital gains and losses are as follows:

Short$-$term capital gain $ $7,000$

Short$-$term capital loss $$(43,000)$

Long$-$term capital galn $$9,000$

Long$-$term capital loss $$(21,000)$

What amount of capital loss deduction is the taxpayer entitled to use to offset against ordinary income?

A$.$ $$0$

B$.$ $$3,000$

C$.$ $$12,000$

D$.$ $$48,000$