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Virginia owns 100% of at Goshawk company. In the current year, Gerhawk Company sells a capital asset held for three years) at a loss of
Virginia owns 100% of at Goshawk company. In the current year, Gerhawk Company sells a capital asset held for three years) at a loss of s40,000. In addition, Goshawk has a short-term capital gain of 18,000 and net operating income of 90,000 during the year Virginia has no recognized capital grin (or loss) before considering her ownership in Gombawk How much of the capital lons may be deducted for the year and how much is carried back or forward if Go hawk is a. A proprietorship? b, A C corporation?
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