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
Assume milk is used to produce ice cream. Ceteris paribus, a decrease in the price of milk will cause the equilibrium price of i
MariettaO [177]

Answer:

Fall

Explanation:

Milk is an input in the production of milk.

decrease in the price of milk would increase the production of icecream.

An increase in production would lead to an increase in supply of milk.

When supply exceeds demand, equilibrium price drops.

I hope my answer helps you

5 0
2 years ago
If Ming wants a tertiary color, she should combine
Dimas [21]

red and orange because tertiary colors are combinations with primary and secondary colours.




4 0
2 years ago
Read 2 more answers
Which of the following statements about income taxes is not correct?
Anastaziya [24]

The correct statement regarding the income tax is Deductible temporary differences give rise to deferred tax liabilities, meaning that more tax is payable in the future. hence option C is correct

<h3>What is income tax?</h3>

A tax placed on people or organizations in relation to their income or profits is known as an income tax. Tax rates multiplied by taxable income are typically used to calculate income taxes. Tax rates might change depending on the taxpayer's attributes and source of income.

The complete part of the question is below:

A) Review Later Income tax expense includes both the amount of tax payable in the current period and the amount of tax due in future periods.

B)Income taxes are based on taxable income and not accounting income.

C)Deductible temporary differences give rise to deferred tax liabilities, meaning that more tax is payable in the future.

D)Deferred taxes arise because of temporary differences between the tax base and the carrying amount of assets and liabilities on the balance sheet.

Hence option C is correct.

Learn more about income tax:

brainly.com/question/17075354

#SPJ1

7 0
2 years ago
Given the following data: Treasury Bill Maturity DTM Bid Asked Mar 90 1.20 1.15 If you invest $10,000 today at the risk-free ra
Oksi-84 [34.3K]

Answer: $10029

Explanation:

Based on the information given in the question, if $10000 is invested today at the risk-free rate, the amount that'll be received in 90 days will be calculated thus:

= Investment × (1 + Asked) × (DTM/360)

= 10000 + (1 + 0.0115) × (90/360)

= 10000 + 1.011 × 0.25

= 10029

Therefore, the answer is $10029

7 0
3 years ago
To have an effective marketing exchange process, you must make sure it involves a customer, a provider, a product, and a:
k0ka [10]
1) lawyer


I hope this is right

5 0
3 years ago
Other questions:
  • Neither Subpart C (Prisoners) nor Subpart D (Children) applies to juveniles in the correctional systems because wardens of juven
    8·1 answer
  • Channel richness is, in part, determined by the ability to facilitate rapid, two-way feedback.
    7·1 answer
  • Many ironworkers are also experienced in what other skills? (Select all that apply.)
    8·1 answer
  • Deployment Specialists pays a current (annual) dividend of $1 and is expected to grow at 22% for two years and then at 5% therea
    5·1 answer
  • On January 1, Year 1, Bell Corp. issued $340,000 of 10-year, 8 percent bonds at their face amount. Interest is payable on Decemb
    11·1 answer
  • Meredith, the General Manager at Gladfle Inc., is planning to use certain new strategies to control and reduce the health care b
    10·1 answer
  • g you are deciding between a conventional air conditioner and a high efficiency (High SEER) unit. The high efficiency unit costs
    5·1 answer
  • Allocating resources including people, equipment and money to carry out the company’s plans is the _________function of manageme
    5·1 answer
  • Item8 4 points Time Remaining 44 minutes 36 seconds00:44:36 Item 8 Time Remaining 44 minutes 36 seconds00:44:36 Information for
    14·1 answer
  • The airlines sold fewer tickets to business travelers during the "Great Recession" due to more companies using video conferencin
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!