Net capital loss
If a regulated investment company has a net capital loss for any taxable year—
(i)#
such net capital loss shall not be taken into account for purposes of determining the company’s earnings and profits, and
(ii)#
any capital loss arising on the first day of the next taxable year by reason of clause (ii) or (iii) of section 1212(a)(3)(A) shall be treated as so arising for purposes of determining earnings and profits.