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30 September, 00:24

Studios reported a net capital loss of $30,000 in year 5. it reported net capital gains of $14,000 in year 4 and $27,000 in year 6. what is the amount and nature of the book-tax difference in year 6 related to the net capital carryover?

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  1. 30 September, 03:18
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    Studios carries back $14,000 of the lose of 4 year, and then carries the remaining $16,000 forward to year 6. In year 6 it deducts $ 16,000 for tax purposes and 0$ for book purposes
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