Small Corporation had the following capital gains and losses during the current year:
Taxable income, exclusive of the capital gains and losses above, is $68,000.
a. How should the capital gains and losses be treated for the current year?
b. What is the taxable income for the current year taking into consideration the capital gains and losses?

Question

Small Corporation had the following capital gains and losses during the current year:
  Taxable income, exclusive of the capital gains and losses above, is $68,000.
a. How should the capital gains and losses be treated for the current year?
b. What is the taxable income for the current year taking into consideration the capital gains and losses?

Quizplus · Accepted Answer

The Answer of Small Corporation had the following capital gains and losses during the current year:
  Taxable income, exclusive of the capital gains and losses above, is $68,000.
a. How should the capital gains and losses be treated for the current year?
b. What is the taxable income for the current year taking into consideration the capital gains and losses?

Small Corporation Had the Following Capital Gains and Losses During