A Corporation May Carry a Net Capital Loss Forward Five

question 7

True/False

A corporation may carry a net capital loss forward five years to offset capital gains in future years but it may not carry a net capital loss back to offset capital gains in previous years.

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Definitions:

Mental Illness

A condition that affects a person's thinking, feeling, behavior, or mood, often significantly impairing personal functioning.

Homeless

Relates to individuals who lack a fixed, regular, and adequate nighttime residence, including those living in shelters, transitional housing, or places not meant for human habitation.

Indigenous People

Groups of individuals who are the original inhabitants of a region, before the arrival of colonists or outsiders, and who maintain practices, languages, and beliefs of their ancestral cultures.

Homeless

People lacking stable and permanent housing or adequate living conditions.