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2.WCC Corp. has a $100,000 net operating loss carryover into 2020. Assume that it reported $75,000 of taxable income in 2020 (before the net operating
2.WCC Corp. has a $100,000 net operating loss carryover into 2020. Assume that it reported $75,000 of taxable income in 2020 (before the net operating loss deduction) and $30,000 of taxable income in 2021 (before the net operating loss deduction).(Leave no answer blank. Enter zero if applicable.)
a. What is WCC's taxable income in 2020 and 2021 (after the net operating loss deduction), assuming the $100,000 NOL carryover originated in 2016?
YearTaxable Income
2020.__________________
2021___________________
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