Problem $3-40($LO$.1)$

Virginis owns $100\%$ of Goshawk Company. In the current yeat, Goshawk Company sells a capital asset $($held for three years$)$ at a loss of $$40,000.$ In addition, Goshawk has a short$-$term capital gain of $$18,000$ and net operating income of $$90,000$ during the year. Virginia has no recognized capital gain $($or loss$)$ before considering her ownership in Goshawk.

How much of the capital loss mav be deducted for the vear, and how murh is camied back or formard ir Coshank is $($a$)$ a proprietorship and $($b$)$ a C corporation?

a$.$ If Goshawk is a proprietorsNip, ff $$ tong$-$term capital loss can be deducted in the current year, The remaining

$$ net capital loss is carried $$ and $$

b$.$ #f Goshawk is a C corporation, Problem $3-40($LO$.1)$

Virginis owns $100\%$ of Goshawk Company. In the current yeat, Goshawk Company sells a capital asset $($held for three years$)$ at a loss of $$40,000.$ In addition, Goshawk has a short$-$term capital gain of $$18,000$ and net operating income of $$90,000$ during the year. Virginia has no recognized capital gain $($or loss$)$ before considering her ownership in Goshawk.

How much of the capital loss mav be deducted for the vear, and how murh is camied back or formard ir Coshank is $($a$)$ a proprietorship and $($b$)$ a C corporation?

a$.$ If Goshawk is a proprietorsNip, ff $$ tong$-$term capital loss can be deducted in the current year, The remaining

$$ net capital loss is carried $$ and $$

b$.$ #f Goshawk is a C corporation,