Question
Cedar Corporation reported a $25,000,000 net operating loss in 2021.It also has a $100,000 NOL carryover from 2017. In 2022, Cedar reported taxable income before
Cedar Corporation reported a $25,000,000 net operating loss in 2021.It also has a $100,000 NOL carryover from 2017. In 2022, Cedar reported taxable income before any NOL carryovers of $20,000,000. What is Cedar's taxable income in 2022 after the NOL deduction and what is its NOL carryover, if any, to 2023?
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Fundamental Financial Accounting Concepts
Authors: Thomas Edmonds
7th Edition
73527122, 978-0073527123
