Tatoo Inc Reported a Net Capital Loss of $13,000 in 2017

question 1

Multiple Choice

Tatoo Inc. reported a net capital loss of $13,000 in 2017. It had a net capital gain of$4,300 in 2015 and $3,000 in 2014. In 2016, although the company suffered a netoperating loss, it had net capital gains of $1,000. What is the amount of Tatoo's capital loss carryover remaining after it applies the carryback?

• A) $5,700.
• B) $13,000.
• C) $4,700.
• D) $8,700.

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Definitions:

Cell Division

The process by which a parent cell divides into two or more daughter cells, critical for growth, reproduction, and repair in organisms.

Parent Cells

Cells that divide to produce daughter cells through the process of mitosis or meiosis, involved in growth, repair, and reproduction in living organisms.

Sister Chromatids

Identical copies of a single chromosome that are connected by a centromere and are formed during the replication phase of the cell cycle, crucial for genetic material distribution during cell division.

Chromosomal DNA

The DNA that is contained within the chromosomes of a cell, carrying genetic information vital for the cell's structure, development, and function.