Question

Adam is an individual taxpayer who has these following activities:

2016: Short-term capital loss of (20,000), a short-term capital gain of 12,000, a Long-term capital loss of (15,000), and long-term gain of 10,000

2017: Short-term capital loss of (20,000), a short-term capital gain of 12,000, a Long-term capital loss of (12,000), and long-term gain of 20,000

2018: Short-term capital loss of (6,000), a short-term capital gain of 28,000, a Long-term capital loss of (11,000), and long-term gain of 30,000

Q1: What will be the carryover for Adam in 2019?

Q2: What capital loss or gain Adam will have for 2018?

Answer 1

Year		$		Caryy forward $
2016	Long-term Capital gain	10,000
	Less: Set off of long-term losses	(15,000)		(5,000)
	Short-term capital gain	12,000
	Less: Set off of short-term losses	(20,000)		(8,000)
2017	Long-term Capital gain	20,000
	Less: Set off of long-term losses	(12,000)
	Long-term Capital gain after set off	8,000
	Add: Short-term capital gain	12,000
	Less: Set off of Short-term losses	(20,000)
	Net Capital gain or (loss)	-		-
2018	Long-term Capital gain	30,000
	Less: Set off of long-term losses	(11,000)
	Long-term Capital gain after set off	19,000
	Less: Set off of remaining long-term losses in the year 2016	(5,000)
	Long-term Capital gain after set off	14,000
	Add: Short-term capital gain	28,000
	Less: Set off of Short-term losses for the current year	(6,000)
	Less: Set off of remaining Short-term losses of the year 2016	(8,000)
	Net Capital gain or (loss)	28,000		-
2019	Carryover capital losses for the year 2019 is zero.
	All the carryover losses are set off in the year 2018.