Albatross,a C corporation,had $200,000 net income from operations and a $25,000 short-term capital loss in 2008.Albatross Corporation's taxable income is $200,000.

Question

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A corporation cannot deduct a net capital loss in the year incurred.For corporations,a net capital loss must be carried back three years or forward five years and be offset against capital gains in the carryback/forward years.

Albatross,a C Corporation,had $200,000 Net Income from Operations and a $25,000