Required information [The following information applies to the questions displayed below.) This year, Jack O. Lantern incurred a $63,750 loss on the worthlessness of his stock in the Creepy Corporation (CC). The stock, which Jack purchased in 2005, met all of the $1244 stock requirements at the time of issue. In December of this year, Jack's wife, Jill, also incurred a $84,200 loss on the sale of Eerie Corporation (EC) stock that she purchased in July 2005 and which also satisfied all of the $1244 stock requirements at the time of issue. Both corporations are operating companies. Assume that they file a joint return. b. Assuming they did not engage in any other property transactions this year, how much of a net capital loss will carry over to next year for Jack and Jill? Capital loss carryover Required information [The following information applies to the questions displayed below.) This year, Jack O. Lantern incurred a $63,750 loss on the worthlessness of his stock in the Creepy Corporation (CC). The stock, which Jack purchased in 2005, met all of the $1244 stock requirements at the time of issue. In December of this year, Jack's wife, Jill, also incurred a $84,200 loss on the sale of Eerie Corporation (EC) stock that she purchased in July 2005 and which also satisfied all of the $1244 stock requirements at the time of issue. Both corporations are operating companies. Assume that they file a joint return. b. Assuming they did not engage in any other property transactions this year, how much of a net capital loss will carry over to next year for Jack and Jill? Capital loss carryover