A non-corporate taxpayer has two transactions involving the sale of capital assets during the year. As a result of the transactions, he has a short-term capital gain of $2000 and a long-term capital loss of $6000. A corporate taxpayer has the identical transactions occur during the year. Which amount will be added or deducted from ordinary income for the non-corporate and corporate taxpayer capital gains, respectively? >$5000 deduction, $3000 deduction >$3000 deduction, no deduction or addition >No deduction or addition, $3000 deduction >$4000 deduction, $4000 deduction

The state condemns a taxpayers bowling alley on October 15, 2012 and in the next year compensates the taxpayer. When is the last day to replace the bowling alley with the like-kind property to qualify for non-recognition of gain treatment? >Dec 31, 2015 >Oct 15, 2015 >Oct 15, 2016 >Dec 31, 2016