Since you all were so helpful in my real life problem, let me ask you an issue that came up in my tax class. Schedule D for individual returns separates long term and short term capital gains and losses, since the long term gains get special rates.
Schedule D for corporate returns does the same thing, but why? There are no special rates for long term gains for a corporation. And, any carry forward is automatically assigned short term status. Why? Does someone know the reason for this? I wouldn't think the IRS cares for a consistant look. Are they collecting some statistics, or is there some tax benefit that hasn't been explianed in an introductory course?
Thanks.