The taxation of capital gains for a corporation and an individual differs in the following manner: a.
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The taxation of capital gains for a corporation and an individual differs in the following manner:
a. Net short-term gains and net long-term losses are not netted against one another.
b. If capital losses exceed capital gains for the tax year, the corporation may deduct $3,000 of excess capital losses against ordinary income.
c. Corporate net capital gains are taxed at a favorable rate of 20 percent.
d. Excess capital losses may be carried back three years and forward five years.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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