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Exercise 3-22 (Algorithmic) (LO. 1) Goose Corporation, a C corporation, incurs a net capital loss of $46,700 for 2020. It also has ordinary income of
Exercise 3-22 (Algorithmic) (LO. 1) Goose Corporation, a C corporation, incurs a net capital loss of $46,700 for 2020. It also has ordinary income of $37,360 in 2020. Goose had net capital gains of $9,340 in 2016 and $18,680 in 2019. If an amount is zero, enter "O". a. Determine the amount, if any, of the net capital loss of $46,700 that is deductible in 2020. $ b. Determine the amount, if any, of the net capital loss of $46,700 that is carried forward to 2021. $
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