Question
John Broley has a $50,000 non-capital loss carry forward and a $50,000 net capital loss carry forward. During the current year, his only income is
John Broley has a $50,000 non-capital loss carry forward and a $50,000 net capital loss carry forward. During the current year, his only income is a $50,000 taxable capital gain. He has asked your advice as to which of the two loss carry forwards he should deduct. What advice would you give him?
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Global Accounting And Control A Managerial Emphasis
Authors: Sidney J. Gray, Stephen B. Salter, Lee H. Radebaugh
1st Edition
0471128082, 978-0471128083
