Goose Corporation, a C corporation, incurs a net capital loss of $12,000 for 2016. It also has ordinary income of $10,000 in 2016. Goose had net capital gains of $2, 500 in 2012 and $5,000 in 2015. Determine the amount, if any, of the net capital loss of $12,000 that is deduct ible in 2016. Determine the amount, if any, of the net capital loss of $12,000 that is carried forward to 2017

Awidower devised his fee simple interest in his residence as follows: “to my daughter for life, then to my oldest grandchild who survives her.” at the time of the widower’s death, he was survived by his only two children, a son and a daughter, and by one grandchild, his daughter’s son. a short time later, the daughter together with her son entered into a contract to sell the residence in fee simple to a buyer. the applicable jurisdiction continues to follow the common law rule against perpetuities, but has abrogated the rule in shelley’s case. at the closing, the buyer refused to purchase the residence. can the sellers compel the buyer to do so?

When the amount for land is 36,000 and the amount paid for expenses is 10,000, the balance of total asset is

On july 2, year 4, wynn, inc., purchased as a short-term investment a $1 million face-value kean co. 8% bond for $910,000 plus accrued interest to yield 10%. the bonds mature on january 1, year 11, and pay interest annually on january 1. on december 31, year 4, the bonds had a fair value of $945,000. on february 13, year 5, wynn sold the bonds for $920,000. in its december 31, year 4, balance sheet, what amount should wynn report for the bond if it is classified as an available-for-sale security?