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Tax Drill - Treatment of Corporate Capital Losses Goyo Corporation, a calendar year taxpayer, incurs a long-term net capital loss of $12,000 for 2018. It
Tax Drill - Treatment of Corporate Capital Losses Goyo Corporation, a calendar year taxpayer, incurs a long-term net capital loss of $12,000 for 2018. It has ordinary income of $10,000 in 2018. Goyo had long-term capital gains of $2,500 in 2015 and $5,000 in 2017. If an amount is zero, enter "O". As a result, Goyo may deduct$ of the net long-term capital loss in 2018. Goyo may carryback and use $ of the losses. In addition, Goyo has a short-term carryover of to 2019
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