- This topic has 2 replies, 2 voices, and was last updated 2 years, 4 months ago by .
From the most recent 2021 RQ,
A C corporation incurred $438,000 capital loss in year 4 and has the following tax information. What amount of capital loss is available for
carryover to future tax years?
Y1 Y2 Y3 Y4
Capital gain(loss) 0 $21,000 $11,000 ($438,000)
Taxable gain(loss) 25000 17000 31000 750,000
—> The answer is $410,000. Can someone please explain why 410,000 is a carryforward capital loss?
- You must be logged in to reply to this topic.