A corporation may carry a net capital loss forward five years to offset capital gains in future years but it may not carry a net capital loss back to offset capital gains in previous years.
Answer the following statement true (T) or false (F)
False
A corporation carries a net capital loss back three years (required) and forward five years.
You might also like to view...
Why is it essential for organizations to communicate the nature and value of benefits to their employees?
What will be an ideal response?
A corporation is a legal entity
A) held jointly by its owners and management. B) separate from its owners. C) formed by the laws of the U.S. Department of Commerce. D) under the laws established by the SEC.
The better you know yourself, the more ____________ you will be in the decisions you make and the more ___________ your decisions will be.
a. unsure, irresponsible b. stubborn, determined c. confident, consistent d. laid back, valuable
Generally, State A may exercise "long-arm" jurisdiction over a defendant located in State B if the defendant:
a. once resided in State A. b. uses a product produced in State A. c. made a contract in State A. d. has relatives in State A.