Sigma Corporation had the following capital gains and losses for 2009 through 2013:
$\begin{array} { l l l l l }
\underline{2009}& \underline{2010}& \underline{2011} & \underline{2012}&\underline{2013}\
\$ 30,000 & \$(20,000) & \$ 15,000 & \$(30,000) & \$ 60,000
\end{array}$
Sigma's net capital gain for 2013 is:

Question

Sigma Corporation had the following capital gains and losses for 2009 through 2013:
$\begin{array} { l l l l l } 
 \underline{2009}& \underline{2010}& \underline{2011} & \underline{2012}&\underline{2013}\
\$ 30,000 & \$(20,000) & \$ 15,000 & \$(30,000) & \$ 60,000
\end{array}$
Sigma's net capital gain for 2013 is:

Quizplus · Accepted Answer

Sigma Corporation can carry forward the net capital losses from previous years to offset the capital gains in 2013. The net capital losses from 2010 and 2012 total $50,000. Subtracting this from the 2013 gain of $60,000 results in a net capital gain of $10,000 for 2013. Adding the $15,000 gain from 2011, the total net capital gain for 2013 is $55,000.

Sigma Corporation Had the Following Capital Gains and Losses for 2009