Capital Loss Carrybacks and Carryovers. Federal Corporation realizes the following net capital…


Capital Loss Carrybacks and Carryovers. Federal Corporation realizes the subjoined net principal losses in 2019:

NLTCGs were incurred in 2016 through 2018 as follows:

a. What are the sum and class of any capita l loss carryback to 2016 through 2018?

b. What treatment should be accorded any unused principal loss sum succeeding the carry-back?

c. What is the class of any unused principal loss carryovers?