[kukuna2008]

A multiple question from NINJA:

All of the following regarding capital gains and losses are true for corporations except:

A. excess capital losses can be carried back 3 years and forward 15 years.

B. capital gains in excess of capital losses are taxable in full.

C. There is no capital loss deduction against ordinary income.

D. losses are used on a FIFO method when there are losses for more than 1 year being carried back or forward.

The correct answer is A. I understand A is correct, but can someone explain to me what does D mean?

FAR - 83, 04/2015
AUD - 73, 86, 08/2015
REG - 75
BEC - 71, rematch in 04/2016