Corporate taxpayers may offset capital losses only against capital gains and may carry excess losses back three years and then forward five years.
Answer the following statement true (T) or false (F)
True
Corporate taxpayers cannot deduct any net capital losses. Net capital losses can be carried back three years and forward five years.
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When the Federal Trade Commission (FTC) insists that a company stop making a false claim in an advertisement and that company agrees to stop, it is an example of a(n):
A) legal review B) cease and desist order C) administrative complaint D) consent order
If the Fed uses the federal funds rate as an interest rate target, an increase in the demand for reserves will result in a(n) ________ in ________
A) increase; nonborrowed reserves B) decrease; nonborrowed reserves C) increase; the federal funds interest rate D) decrease; the federal funds interest rate
Standard Side Bank, a U.S. national bank, has $50 million in unimpaired capital and surpluses and $86 million in total time and savings deposits. Average revenue for the bank in the last three years is $12.5 million and a net interest income of $3.2 million. Pluto Inc. has applied for a loan of $9 million to the bank against which it is willing to provide $1 million worth of ten-year treasury securities. What is the maximum amount of loan the bank can make to Pluto?
A. $9 million B. $4.5 million C. $7.5 million D. $8.5 million E. $1 million
Earnest money is the sum of money the home buyer deposits with the
a. realtor to view homes. b. realtor for finding the desired home. c. lender to originate the loan. d. seller to indicate intent of purchase. e. lender to guarantee the purchase.