1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alla [95]
3 years ago
6

During 2019, Dowdy, a C corporation, realized a long-term capital gain of $8,000 from the sale of a tract of land, a short-term

capital gain of $6,000 from the sale of stock of Ornery Corporation, and a long-term capital loss of $18,000 from the sale of U.S. government securities. What amount of the long-term capital loss may Dowdy deduct on its 2019 income tax return?
Business
1 answer:
postnew [5]3 years ago
8 0

Answer:

The answer to the following question is $4000.

Explanation:

Dowdy which is a C corporation, has a total of $14,000 in capital gain, in which $8000 comes from sale of tract land and rest of $6000 comes from sale of stock. And the company also has a capital loss of $18,000. So here the company is having a long term capital loss of $4000 ( $18,000 - $14,000 ), and this C corporation can deduct this long term capital loss from their taxable income ( the year in which loss was incurred ) . If in a situation, loss is not deducted from this year , then it can be carried 3 years or 2 years or even 1 years back and if there is capital gain , it can be deducted from it.

You might be interested in
Zack received a gift of stock from his uncle on June 20 of the current year. Zack's uncle had a basis in the stock of $4,000, bu
DiKsa [7]

Answer:

$4,000

Explanation:

7 0
3 years ago
Read 2 more answers
According to the GLOBE project, which of the following are most likely to view the terms "leader" and "manager" negatively? the
Genrish500 [490]

Answer:

Mexicans

Explanation:

According to the GLOBE project and Hofstede's cultural dimensions, Mexico falls under category of high power distance, whose culture is more based on collectivism. Leaders in these cultures who are successful are the ones who make decisions collectively, therefore any individual approach by these managers in an organization towards decision-making would be viewed negatively.

6 0
3 years ago
Stephen is restoring a car and has already spent $4,000 on the restoration. he expects to be able to sell the car for $5800. ste
Novay_Z [31]
He should just seek the car for 3,800 if he was to continue with the restoration he would lose and extra 600 bucks. hes already lost 200 investing in the car already. so either way hes not making any sort of profit. hes just waiting his time.
3 0
3 years ago
Read 2 more answers
Wild Plus, a television channel dedicated to wildlife, wanted to promote its new wildlife adventure series. The series was given
jeyben [28]

Answer:

Option C. Public relations

Explanation:

A public relation strategy plays vital role in promoting organization's services and products to create brand awareness and place the product among the customer priorities. Furthermore, public relation strategy also helps the organization to promotes its product by increased communication with the customers and repositioning of product or service. So the Wild Plus is using public relation strategy increase its brand awareness through repositioning of its services and increased communication with its customer to opt to its product offerings.

3 0
3 years ago
How would a person in the following human services career fields work with someone who holds differing beliefs from them
Paraphin [41]

hehehehehehehehehehehe

6 0
3 years ago
Other questions:
  • Selling with criminal negligence alcoholic beverage to a minor is a
    11·2 answers
  • The true cost of borrowing and lending is best measured by
    8·1 answer
  • Craft Inc.'s Krayons is a multi-color chalk material that was released in the market over a century ago. Since the release, the
    10·1 answer
  • Think of the products you use on a daily basis and think of the types of utility. What is a product that you use on a daily basi
    6·1 answer
  • It is May 1. The quoted price of a bond with a 30/360 day count and 12% per annum coupon in the United States is 105. It has a f
    13·1 answer
  • The accounting cycle starts with a.closing out the periodic accounts. b.recording the transaction based on the information in a
    10·1 answer
  • The Campbell Company is considering adding a robotic paint sprayer to its production line. The sprayer's base price is $1,090,00
    8·1 answer
  • Which of the following reasons can make a diversification strategy an unwise course of action for a company to pursue? Group of
    9·1 answer
  • What is human resources in south Africa​
    14·1 answer
  • Please help!!!! I am struggling with this.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!