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B12 Corporation is currently in the sixth year of its existence (2022). In 2017-2021, it reported the following income and (losses) (before net operating
B12 Corporation is currently in the sixth year of its existence (2022). In 2017-2021, it reported the following income and (losses) (before net operating loss carryovers or carrybacks). 2017 2018 $ (88,000) 2019 (39,000) 69,000 2020 167,000 2021 2022 Required: (234,000) 318,000 a. What is B12's 2022 taxable income after the NOL deduction (assume it does not elect to forgo any carrybacks, if applicable)? b. What is its 2022 book-tax difference associated with its NOL? Is it favorable or unfavorable? Is it permanent or temporary? Complete this question by entering your answers in the tabs below. Required A Required B What is B12's 2022 taxable income after the NOL deduction (assume it does not elect to forgo any carrybacks, if applicable)? 2022 taxable income after the NOL deduction Required A Required B >
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