For Corporation sold a Capital Asset in 2020 that it had held for two (2) years at a loss of $20,000 in 2020, For Corporation had Taxable income From Operations of $50,000 (Ordinary income) and also had a Short-Term Capital Gain of $12,000 The total Capital Loss that For Corporation may deduct (offset) for the tax year of 2020 is. $ -0- $ 3,000 $12,000 $50,000