Lass Corporation reports a $25,000 net capital loss this year. The corporation reports the following...
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Accounting
Lass Corporation reports a $25,000 net capital loss this year. The corporation reports the following net capital gains during the past three years.
| Year | Net Long-Term Capital Gain | Net Short-Term Capital Gain |
| Third previous year Year before last Last year | $5,000 7,000 0 | $6,000 3,000 0 |
Determine the amount of net capital loss carried back to each preceding tax year and the amount of capital loss, if any, available as a carryforward.
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