Bob has capital losses of $4,000 that exceed his capital gains in the current year. Of this amount, $1,200 is a short-term capital loss and $2,800 is a long-term capital loss. The capital loss carryforward will be a $1,000 . Multiple choice question. capital loss carryforward and Bob can choose how much of the gain to allocate to short-term versus long-term long-term capital loss because Bob must first use the short-term loss to offset ordinary income capital loss pro-rated between short-term ($300) and long-term ($700) short-term capital loss because Bob must first use the long-term loss to offset ordinary income