In the current year, Eva has net short-term capital losses of $3,000, a net long-term capital loss of $42,000, and taxable income from wages of $36,000. a. Calculate the amount of Estes' deduction for capital losses for the current year. b. Calculate the amount and nature (short-term or long-term) of his capital loss carryforward. c. For how many years may Eva carry the unused loss forward?

The following four Cases make different assumptions with respect to the amounts of income and deductions of Kirk Maddox for the current year. View the cases. Required For each Case, calculate Mr. Maddox's Net Income (Division B income). Indicate the amount and type of any loss carry overs that would be available at the end of the current year, or state that no carry overs are available. Case A. What is Mr. Maddox's Net Income (Division B income)? Case A. What is the amount and type of any loss carry overs that would be available at the end of the current year in this case, if any? (For entries with a $0 balance, make sure to enter "0" in the appropriate input field.) $ What is the amount of net capital loss carry overs? What is the amount of non-capital loss carry overs? 84,200

which of the following statements correctly describes the carryback or carryover period for net capital losses?   1 the excess loss is then carried forward indefinitely for corporations and back three years and forward five years for noncorporations.   2. the excess loss is then carried forward indefinitely for noncorporations and back three years and forward five years for corporations.   3. there is no carryback period. Taxpayer may only carry forward for 5 years   4. the excess loss is then carried forward indefinitely for both corporations and noncorporations.

Hi, can someone help me with this please?