Carrot Corporation,a C corporation,has a net short-term capital gain of $65,000 and a net long-term capital loss of $250,000 during 2015.Carrot Corporation had taxable income from other sources of $720,000.Prior years' transactions included the following: 2011 Net long-term capital gain $150,000 2012 Net short-term capital gain 60,000 2013 Net short-term capital gain 45,000 2014 Net long-term capital gain 35,000 Compute the amount of Carrot's capital loss carryover to 2016.
A) $0
B) $32,000
C) $45,000
D) $185,000
E) None of the above
Correct Answer:
Verified
Q15: Peach Corporation had $210,000 of net active
Q18: No dividends received deduction is allowed unless
Q36: Schedule M-2 is used to reconcile unappropriated
Q44: Rachel is the sole member of an
Q45: Juanita owns 60% of the stock in
Q47: Flycatcher Corporation,a C corporation,has two equal individual
Q48: Copper Corporation,a C corporation,had gross receipts of
Q52: Pablo,a sole proprietor,sold stock held as an
Q55: Lucinda is a 60% shareholder in Rhea
Q56: In the current year, Sunset Corporation (a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents