Any Corporate Capital Loss Not Used in the Current Year

question 129

True/False

Any corporate capital loss not used in the current year can be carried back 2 years and carried forward 20 years to offset capital gains in those years.

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Definitions:

Blind

Lacking awareness, insight, or perception in a specific context or general sense.

Visualization

The process of mentally imagining something, especially in detail, to help understand, plan, or create something.

Self-Talk

The internal dialogue a person has with themselves, which can influence one's mindset, behavior, and overall mental health.

Reframing

The process of changing the way a situation or perspective is viewed, thereby altering its meaning and impact on an individual’s thoughts and actions.