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Dryer Corporation (Corporation not individual) had the following transactions. Revenues $50,000 Expenses 30,000 LTCG 5,000 STCL (15,000) What is Dryer Corporation's taxable income and capital
Dryer Corporation (Corporation not individual) had the following transactions.
Revenues | $50,000 |
Expenses | 30,000 |
LTCG | 5,000 |
STCL | (15,000) |
What is Dryer Corporation's taxable income and capital loss (Corporation not individual).
Select one:
a. $15,000 taxable income; $15,000 short term capital loss carried back 3 years and forward 5 years
b. $17,000 taxable income; $12,000 short term capital loss carried forward indefinetely.
c. $10,000 taxable income
d. $20,000 taxable income, $10,000 STCL carried back 3 years and forward 5 years
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