Is this correct?

Player A attacks
Player B activates Magic Clyinder
Player A responds with Call of the Haunted, Special Summoning Jinzo
Magic Cylinder's effect is negated

LMK. Thanks.

Yes, that is correct. Since the chain resolves backwards and Jinzo is summoned before Magic Cylinder resolves, Jinzo will negate the effect of Magic Cylinder when it resolves.

also note that jinzo will negate cylinder even if you chain something else to send cylinder to the graveyard. (somewhat complicated reasoning based on the principle that since cylinder is activated on the field the effect resolves on the field despite where the card itself actually is)

the only way in that scenario to make magic cylinder go through is either to chain something that would prevent call from summoning jinzo (most likely negate or destroy call), or chain skill drain so that its already active when jinzo is summoned.

wat about cards like mirage dragon was summoned bye the effect of call of the haunted will he negate the effect of magical cylinder because it is in the battle step???????????

no, things like mirage dragon and pitch black warwolf do not negate any effects at all. nowhere do they say they negate anything.

they simply prevent trap cards from being activated. but since magic cylinder was already activated they can't do anything about it.

the only way to stop magic cylinder is to negate it, or flip the attacking (targeted) monster face down or remove it from the field.

Yes.

It a chain.

Player B Magic Cylinder's goes first, so it activates last.
Player A chains CotH to bring back Jinzo. This goes first.

So in gameplay. Jinzo comes back, then the activation and negation of Magic Cylinders. That how I perceive the case.