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Assume that in year 1 Hill Corporation reported a net operating loss of $17,200 that it carried forward to year 2. In year 1, Hill
Assume that in year 1 Hill Corporation reported a net operating loss of $17,200 that it carried forward to year 2. In year 1, Hill also reported a net capital loss of $7,600 that it carried forward to year 2. In year 2, ignoring any carryovers from other years, Hill reported a loss for tax purposes of $63,750. The current year loss includes a $13,600 net capital gain.
What is Hills year 2 net operating loss? |
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