BlubBlu Ca experienced the following time Line of Taxable Income before the effects OF Net Operating Loss carry backs and carry- Fowards. Table Income before the effects year of Net operating Loss carry backs and carry Forwards 2017 $ 160 2018 - $ 206 2019 $ 110 - Under the U.S. Tex cuts and Jobs Act of 2017 (TCJA), Net operating Losses cannot be carried backward, but can be carried forward Indefinitely. Net operating Loss carry foowards can be used to reduce taxable income by up to 80% of taxable income in any years. The Federal corporate income tax. - After taking into consideration the effects of Net operating Loss carry backs and carry Forwards, a the limitations on using corry forwards under the TCJA, by how much did Blub Blub Co.'s deferred Tax assets de coease in 2019? as wellas