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Taxpayer W had an allowable capital loss of $10,000 in the current year. W also had a taxable capital gain of $5,000 in the

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Taxpayer W had an allowable capital loss of $10,000 in the current year. W also had a taxable capital gain of $5,000 in the previous year. W had no other capital transactions. How might W take full advantage of the loss? O a. Deduct it in the current year against all sources of income. O b. Deduct $5,000 loss carry-back to the previous year and deduct the remaining amount in the current year. O c. Since W had no taxable capital gains in the current year, W will have to carry- forward the amount for the next 20 years. Od. Carry back enough allowable capital loss to offset the taxable capital gain in the previous year and carry the remainder forward indefinitely.

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