Pure Action Cycles Inc.,a bicycle manufacturer,has a net capital loss in 2017 of $64,000.It had net capital gains of $21,500 in 2016,$45,000 in 2015,$10,000 in 2014 (but suffered a net operating loss in 2014),and $8,000 of net capital gain in 2012.What is the net capital gain in 2016 after the carryback is applied?

Question

Quizplus · Accepted Answer

The Answer of Pure Action Cycles Inc.,a bicycle manufacturer,has a net capital loss in 2017 of $64,000.It had net capital gains of $21,500 in 2016,$45,000 in 2015,$10,000 in 2014 (but suffered a net operating loss in 2014),and $8,000 of net capital gain in 2012.What is the net capital gain in 2016 after the carryback is applied?