Goose Corporation, a C corporation, incurs a net capital loss of $12,000 for 2023. It also has ordinary income of $10,000 in 2023. Goose had net capital gains of $2,500 in 2019 and $5,000 in 2022. If an amount is zero, enter "0". Question Content Area a. Determine the amount, if any, of the net capital loss of $12,000 that is deductible in 2023. b. Determine the amount, if any, of the net capital loss of $12,000 that is carried forward to 2024.

Goose Corporation, a C corporation, incurs a net capital loss of $12,000 for 2023. It also has ordinary income of $10,000 in 2023. Goose had net capital gains of $2,500 in 2019 and $5,000 in 2022. If an amount is zero, enter "0". Question Content Area a. Determine the amount, if any, of the net capital loss of $12,000 that is deductible in 2023. b. Determine the amount, if any, of the net capital loss of $12,000 that is carried forward to 2024.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter19: Corporations: Distributions Not In Complete Liquidation

Section: Chapter Questions

Problem 1DQ

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