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The capital loss of $100,000 cannot be deducted in the current year because corporations can only deduct capital losses to the extent of capital gains,
The capital loss of $100,000 cannot be deducted in the current year because corporations can only deduct capital losses to the extent of capital gains, and there are no capital gains in this scenario. However, What is the capital loss can be carried?
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Heres a breakdown of how capital loss carryover works Carryback vs Carry...
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
