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Bob sold securities in 2013. The sales resulted in a capital loss of $7,000. He...

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Accounting

Bob sold securities in 2013. The sales resulted in a capital loss of $7,000. He had no other capital transactions. He and his wife Gloria decide to file separate returns for 2013. His taxable income was $26,000. What amount of capital loss can he deduct on his 2013 return and what amount can he carry over to 2014?

A. $7,000 in 2013 and $0 carry over to 2014.

B. $3,000 in 2013 and $4,000 carry over to 2014.

C. $4,000 in 2013 and $3,000 carry over to 2014.

D. $1,500 in 2013 and $5,500 carry over to 2014

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