In 2024 Hill Corporation reported a net operating loss of $19,000 that it carried forward to 2025. In 2024 Hill also reported a net capital loss of $3,450 that it carried forward to 2025. In 2025, ignoring any carryovers from other years, Hill reported a loss for tax purposes of $74,500. The current-year loss includes a $14,400 net capital gain. What is Hill's 2025 net operating loss

In 2024 Hill Corporation reported a net operating loss of $19,000 that it carried forward to 2025. In 2024 Hill also reported a net capital loss of $3,450 that it carried forward to 2025. In 2025, ignoring any carryovers from other years, Hill reported a loss for tax purposes of $74,500. The current-year loss includes a $14,400 net capital gain. What is Hill's 2025 net operating loss

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions

Section: Chapter Questions

Problem 68P

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