Labrador Corporation has total capital gains of $18,000 and total capital losses of $35,000 in 2016. Randy

Question:

Labrador has total capital gains of $18,000 and total capital losses of $35,000 in 2016. Randy owns 25% of Labrador's outstanding stock. What is the effect on Labrador's and Randy's 2016 taxable incomes if
a. Labrador is a Explain how Labrador and Randy would treat the capital gains and losses.
b. Labrador is an S Explain how Labrador and Randy would treat the capital gains and losses.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...