Please select the best answer for each of the following questions. Unless otherwise stated, the questions relate to the current tax year.

Question 5 3.34 pts For the year, Steven Sutton had taxable income of $40,000. His one capital transaction was a sale of stock that generated a $8,000 loss. What are Steve's net capital loss for the current year and his carryover to next year? Deduction: $8,000; carryover: $0 Deduction: $3,000; carryover: $5,000 None of the other answers are correct. Deduction: $0; carryover: $8,000