Ordinary taxable income, Robin Corporation, which started

Ordinary taxable income

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Reference no: EM13755394

Robin Corporation, which started operations January 1, has a $15,000 Net Long Term Capital Loss for the current year and $60,000 of ordinary taxable income.

a. Robin may offset the $15,000 NLTCL against its ordinary income.

b. Robin may deduct $3,000 against ordinary income.

c. Robin may carry forward the $15,000 capital loss for 5 years.

d. Robin may carry forward the $15,000 loss indefinitely.

Reference no: EM13755394

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