eBook Problem 20-36 (LO. 3) Taupe, a calendar year taxpayer, has a long-term capital loss of $4,000 and a short-term capital loss of $4,000. How are these items handled for tax purposes if Taupe is an individual and a C corporation? If an amount is zero, enter "0". a. An individual? An individual may currently deduct $ 3,000 of the short-term capital loss and carryover 3,000 X of the long-term capital loss is currently deductible and 1,000 In addition, 1,000 X is carried forward. Feedback Check My Work Significant differences between corporations and individuals exist in the treatement of capital gains and losses for income tax purposes. b. A C corporation? S 4,000 X of short-term capital losses and $ 1,000 X of the long-term capital losses can be used in 2021. 4,000 X can be carried back as short-term capital losses and s 3,000 X as long-term capital losses. Feedback Check My Work Incorrect Foodback Check My Work