This is an accounting question from a corporate taxation class. I placed it under the "accounting" category because Chegg does not have a "taxation" catergory. This question is an accounting question, so it qualifies under the "accounting" category. There is no alternative subject that better fits this question.

Problem 17-35 (a) (LO. 2) WhatIf1

During 2015, Bando Corporation has net short-term capital gains of $18,000, net long-term capital losses of $35,000, and taxable income from other sources of $120,000. Prior years' transactions included the following:

2011 net short-term capital gains	$1,000
2012 net long-term capital gains	4,000
2013 net short-term capital gains	2,000
2014 net long-term capital gains	1,500

If an amount is zero, enter "0".

a. How much is Bando's net capital loss for 2015? (#1)$________

What is the amount of the capital loss deduction on Bando's 2015 tax return? (#2)$________

Any excess net capital loss is carried back or forward as a (#3)$___________[short/long term capital gain/loss]

b. Of the excess 2015 net capital loss, how much is carried back to the previous years?

(#4)$________

c. Compute the amount of capital loss carryover to 2016 and future years.

(#5)$________

Indicate the years to which the loss may be carried. Select "Yes or No", which ever is appropriate.

2016	(#6)_______[Yes/No]
2017	(#7)_______[Yes/No]
2018	(#8)_______[Yes/No]
2019	(#9)_______[Yes/No]
2020	(#10)_______[Yes/No]

d. If Bando is a sole proprietorship, rather than a corporation, how would the owner report these transactions on her 2015 tax return?

Bando offsets (#11)$________ of capital gains against her (#12)________[capital/ordinary] losses and (#13)________[adds/deducts] an additional (#14)$________ in capital (#15)________[gains/losses]. The remaining (#16)$________ is (#17)_______________________[by election, forward for 5 years / carried backward 3 years / carried backward 3 years; then forward 5 years / carried forward indefinitely].