2019

WCC Corp. has a $80,000 net operating loss carryover into 2020. Assume that it reported $50,000 of taxable income in 2020 (before the net operating loss deduction). 19. What is WCC's taxable income in 2020 (after the net operating loss deduction), assuming the $80,000 NOL carryover originated in 2016? 20. What is WCC's taxable income in 2020 (after the net operating loss deduction), assuming the $80,000 NOL carryover originated in 2019