CPA Practice Test 4

Victor Almeida, a single individual, had these sales of capital assets in the current year (Year 2): stock bought March 3, Year 1 and sold March 3, Year 2 at a $6,000 gain; stock held seven months and sold at a $10,000 loss; and shares of a bond fund held four years and sold at a $4,000 loss. He had no other capital transactions and no carryovers. What is his current-year capital loss deduction and his capital loss carryover?