A corporation has the following capital gains and losses during the current year: 
The tax result to the corporation is
A) deduct $3,000 of the STCL currently; carry forward the remaining $2,000 STCL and $6,000 LTCL.
B) deduct $5,000 STCL and $6,000 LTCL.
C) deduct nothing currently; carry back the $5,000 STCL and $6,000 LTCL for three years and carry forward for 5 years,if necessary.
D) deduct nothing currently; carry back the $11,000 STCL for three years and carry forward for 5 years,if necessary.
Correct Answer:
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