In 2011, Y Corporation\'s first year, the corporation had a long-term capital lo

Question

In 2011, Y Corporation's first year, the corporation had a long-term capital loss of $2,000. For the current year, 2012, the corporation has a long-term capital gain of $12,000 and a short-term capital loss of $4,000. The amount of taxable capital gain for the current year is a. $2,400 b. $3,200 c. $6,000 d. $8,000 Which one of the following is not a normal corporate tax preference? a. Accelerated depreciation on real property b. Accelerated depreciation on leased personal property c. Depletion d. Capital gains

Explanation / Answer

b. Accelerated depreciation on leased personal properts

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