Question: Goose Corporation a C corporation incurs a net capital loss

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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  • CreatedSeptember 09, 2015
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