4) Capital G/L Netting rules-over time; if opposite net ST with LT; if both are losses (or both are gains) no further netting a) STCG $500; STCL $700; LTCG $1,000; LTCL $200 = b) STCG $1,600; STCL $1,100; LTCG $4,200; LTCL $200 = c) In the current year, ABC Corp has LTCG $10,000; STCG $5,000; and LTCL $20,000 i. How much of the $20,000 losses can ABC utilize in the current year? 60,000 It st ii. What if ABC had $800 cap gain in the prior year