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Goose Corporation, a C corporation, incurs a net capital loss of $40,700 for 2016. It also has ordinary income of $32,560 in 2016. Goose had
Goose Corporation, a C corporation, incurs a net capital loss of $40,700 for 2016. It also has ordinary income of $32,560 in 2016. Goose had net capital gains of $8,140 in 2012 and $16,280 in 2015.
If an amount is zero, enter "0".
a. Determine the amount, if any, of the net capital loss of $40,700 that is deductible in 2016. $___________?
b. Determine the amount, if any, of the net capital loss of $40,700 that is carried forward to 2017. $___________?
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