Question
Cedar Corporation reported a $25,000,000 net operating loss in 2022. It also has a $100,000 NOL carryover from 2017. In 2023, Cedar reported taxable income
Cedar Corporation reported a $25,000,000 net operating loss in 2022. It also has a $100,000 NOL carryover from 2017. In 2023, Cedar reported taxable income before any NOL carryovers of $20,000,000. What is Cedar's taxable income in 2023 after the NOL deduction, and what is its NOL carryover, if any, to 2024?
What is
1. Cedar's taxable income in 2023?
2. NOL carryover to 2024?
the answers are not 0 nor 5,100,000
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Cost Accounting Concepts And Applications For Managerial Decision Making
Authors: Ralph S. Polimeni, James A. Cashin, Frank J. Fabozzi, Arthur H. Adelberg
2nd Edition
0070103100, 978-0070103108
