Question: I need typed answer with explanation otherwise I will report to your answer and don't use AI BOT. Explain step by step. I will thumb

I need typed answer with explanation otherwise I will report to your answer and don't use AI BOT. Explain step by step. I will thumb up.

Goose Corporation, a C corporation, incurs a net capital loss of $12,000 for 2020. It also has ordinary income of $10,000 in 2020. Goose had net capital gains of $2,500 in 2016 and $5,000 in 2019.

Answer the following:

a. Determine the amount, if any, of the net capital loss of $12,000 that is deductible in 2020.

b. Determine the amount, if any, of the net capital loss of $12,000 that is carried forward to 2021.

Please show all calculations and explain. Thank you.

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