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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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