Question: To better understand the rules for offsetting capital losses and how to treat capital losses carried forward, analyze the following data for an unmarried individual

To better understand the rules for offsetting capital losses and how to treat capital losses carried forward, analyze the following data for an unmarried individual for the period 2012 through 2015. No capital loss carryforwards are included in the figures. For each year, determine AGI and the capital losses to be carried forward to a later tax year.

To better understand the rules for offsetting capital losses and

20122013 2014 2015 AGI (excluding property transactions) 40,000 50,000 $60,000 $70,000 4,000 5,000 7,00010,000 9,000 3,000 5,00012,000 6,000 10,000 2,2006,000 5,000 21,000 1,000 9,500 STCG STCL LTCG LTCL AGI (including property transactions)I STCL to be carried forward LTCL to be carried forward

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