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answer a,b, and c 3. Johnny is the sole owner of Rose Video Corp (RVC). He is actively involved in the activities of the business.

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3. Johnny is the sole owner of Rose Video Corp (RVC). He is actively involved in the activities of the business. In 2020,RVC has a net operating loss of $60,000. a. If RVC is organized as a C-Corporation, can the NOL be deducted by either Johnny or RVC? b. In 2021,RVC had taxable income (before NOL) of $70,000. What is RVC's income tax liability? c. If RVC is organized as an S-Corporation, can the NOL be deducted by either Johnny or RVC

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