Omicron Corporation had the following capital gains and losses for 2011 through 2013:
$\begin{array} { l }
2011&2012&2013\
\$15,000&\$(30,000)&\$60,000
\end{array}$

Omicron's net capital gain for 2013 is:

Question

Omicron Corporation had the following capital gains and losses for 2011 through 2013:
$\begin{array} { l  }
2011&2012&2013\
\$15,000&\$(30,000)&\$60,000
\end{array}$

Omicron's net capital gain for 2013 is:

Quizplus · Accepted Answer

In 2012, Omicron had a capital loss of $30,000, which can be carried forward to offset future capital gains. In 2013, Omicron had a capital gain of $60,000. After applying the $30,000 loss carryforward from 2012, the net capital gain for 2013 is $60,000 - $30,000 = $30,000.

Omicron Corporation Had the Following Capital Gains and Losses for 2011