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Taupe, a calendar year taxpayer, has the following capital transactions for 2016: 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 "O" a. An individual? An indvdual may curently deduct s 90,000 x of the short term capital loss and carried over90,000 x In addition 90,000 X of the short-term capital loss and carried over $ 90,000 X . In addition, 0of the long-term capital loss is currently deductible and 90,000 X is carried over. Feedback Check My Work Significant differences exist in the treatment of capital losses for income tax purposes. b. A C corporation? 0 of losses short-term capital losses and 0 of the long-term capital losses can be used in 2016. $ 90,000 X can be carried back as short-term capital losses and $ V as long-term capital losses