Carrot Corporation, a C corporation, has a net short-term capital gain of $65,000 and a net long-term capital loss of $250,000 during 2018. Carrot Corporation had taxable income from other sources of $720,000. Prior years' transactions included the following: Compute the amount of Carrot's capital loss carryover to 2019.
A) $0
B) $32,000
C) $45,000
D) $185,000
E) None of the above

Question

Carrot Corporation, a C corporation, has a net short-term capital gain of $65,000 and a net long-term capital loss of $250,000 during 2018. Carrot Corporation had taxable income from other sources of $720,000. Prior years' transactions included the following:  Compute the amount of Carrot's capital loss carryover to 2019.
A) $0 
B) $32,000 
C) $45,000 
D) $185,000 
E) None of the above

Quizplus · Accepted Answer

The Answer of Carrot Corporation, a C corporation, has a net short-term capital gain of $65,000 and a net long-term capital loss of $250,000 during 2018. Carrot Corporation had taxable income from other sources of $720,000. Prior years' transactions included the following:  Compute the amount of Carrot's capital loss carryover to 2019.
A) $0 
B) $32,000 
C) $45,000 
D) $185,000 
E) None of the above

Carrot Corporation, a C Corporation, Has a Net Short-Term Capital