James Corporation had a net operating loss of $30,000 before claiming any depreciation deductions. James purchased $26,000

Question:

James had a net operating loss of $30,000 before claiming any depreciation deductions. James purchased $26,000 in equipment in 2016 but claimed no depreciation on its 2016 tax return.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...