Rudy has a net short-term capital loss of $15,500 and a net long-term capital gain of $7,100.  Because the short-term and long-term positions are opposite, they are netted together, producing a net short-term capital loss of $8,400.  Only $3,000 of the loss is deductible.  The remaining $5,400 of loss is carried forward and retains its character as a short term capital loss.

Short-term capital loss                                                  $ (15,500)

Long-term capital gain                      $ 11,600

Long-term capital loss                          (4,500)                    7,100

Net short-term capital loss                                            $   (8,400)

Net short-term capital loss deduction (maximum)        $    3,000

Short-term capital loss carryforward                            $    5,400