Goose Corporation, a C corporation, incurs a net capital loss of $12,000 for 2015. It also has

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Goose Corporation, a C corporation, incurs a net capital loss of $12,000 for 2015. It also has ordinary income of $10,000 in 2015. Goose had net capital gains of $2,500 in 2011 and $5,000 in 2014.

a. Determine the amount, if any, of the net capital loss of $12,000 that is deductible in 2015.

b. Determine the amount, if any, of the net capital loss of $12,000 that is carried forward to 2016.

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South Western Federal Taxation 2016 Corporations Partnerships Estates And Trusts

ISBN: 9781305399884

39th Edition

Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young

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Question Posted: Sep 09, 2015 06:35 AM

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Goose Corporation, a C corporation, incurs a net capital loss of $12,000 for 2015. It also has

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South Western Federal Taxation 2016 Corporations Partnerships Estates And Trusts

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