For Year 1, client, who is single, has a $7,000 short-term capital gain, a $15,000 short-term capital loss, and a $4,000 long term capital gain.

For Year 1, client, who is single, has a $7,000 short-term capital gain, a $15,000 short-term capital loss, and a $4,000 long term capital gain.  He has $50,000 of income from wages, interest, and dividends.  Under the carryover rules, in Year 2 client is treated as having which of the following?

a.  $1,000 short-term capital loss

b.  $1,000 long-term capital loss

c.  $4,000 short-term capital loss

d.  $5,000 short-term capital loss