Having trouble with the one red X..... For each of the following cases, determin

Question

Having trouble with the one red X.....

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 2016. | Capital gain or loss for year indicated Corporation 2010 2011 2012 2013 2014 2015 | A$7.450 S 6.950 ${13.2005 9.2605 7.750 (1.760) 7.000 3,270 3,320 7.250 (25, 1905 2.300 9.960 9,700 (3,250) 2.480 (28,830) 11.100 D (50.270) 11 100 3.020 11,500 11,100 2.650 A5ume that 2010 is the first year of operation for each corporation. 8 Answer is complete but not entirely correct. Carried forward Reported capital gains capital losses Corporation | 2010 | 2011 2012 | 2013 2014 | 2015! 2016 s oes 1.20 ©s oes 9260 Os 7750 Os oes oc |B s 7.000 @ $ oes oes oes oes as 9,050 • |s 6.700 D5 005 005 00s 005 005 5.550 • s oes oes oes oes oes oose

Explanation / Answer

Corporation A:

For setting off loss in 2012

For settin of loss in 2015

The right amount for red X is= 5500

Earliest year to setoff Gain in year Loss to be set off Remaining loss Gain balance 2010 7450 13200 5750 0 2011 6950 5750 0 1200

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