For each of the following cases, determine the amount of capital gain or loss to report in each year (after taking into account any applicable carrybacks) and the capital loss carryforward to 2022, if any. Capital gain or loss for year indicated 2018 Corporation A 2016 2017 B $ 4,800 6,600 $ 6,690 3,160 $ (10,100) 2019 $ 8,620 C 6,550 12,850 3,550 (3,650) 4,150 2020 $ 6,800 (25,130) 2021 $ (1,970) 2,770 2,710 (57,150) 9,650 3,770 12,200 (26,980) 11,400 10,500 2,630 Assume that 2016 is the first year of operation for each corporation. Note: Do not leave cells blank, enter "O" if there is no effect. Reported capital gains Corporation 2016 2017 2018 2019 2020 2021 AB C D Carried forward capital losses 2022
For each of the following cases, determine the amount of capital gain or loss to report in each year (after taking into account any applicable carrybacks) and the capital loss carryforward to 2022, if any. Capital gain or loss for year indicated 2018 Corporation A 2016 2017 B $ 4,800 6,600 $ 6,690 3,160 $ (10,100) 2019 $ 8,620 C 6,550 12,850 3,550 (3,650) 4,150 2020 $ 6,800 (25,130) 2021 $ (1,970) 2,770 2,710 (57,150) 9,650 3,770 12,200 (26,980) 11,400 10,500 2,630 Assume that 2016 is the first year of operation for each corporation. Note: Do not leave cells blank, enter "O" if there is no effect. Reported capital gains Corporation 2016 2017 2018 2019 2020 2021 AB C D Carried forward capital losses 2022
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:For each of the following cases, determine the amount of capital gain or loss to report in each year (after taking into account any
applicable carrybacks) and the capital loss carryforward to 2022, if any.
Capital gain or loss for year indicated
2018
Corporation
A
2016
2017
B
$ 4,800
6,600
$ 6,690
3,160
$ (10,100)
2019
$ 8,620
C
6,550
12,850
3,550
(3,650)
4,150
2020
$ 6,800
(25,130)
2021
$ (1,970)
2,770
2,710
(57,150)
9,650
3,770
12,200
(26,980)
11,400
10,500
2,630
Assume that 2016 is the first year of operation for each corporation.
Note: Do not leave cells blank, enter "O" if there is no effect.
Reported capital gains
Corporation
2016
2017
2018
2019
2020
2021
AB
C
D
Carried forward
capital losses
2022
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