Question
DeMaria Corporation, a calendar year corporation, generates the following taxable income (net operating losses) since its inception in 2016: Year Taxable result 2016 40,000 2017
DeMaria Corporation, a calendar year corporation, generates the following taxable income (net operating losses) since its inception in 2016:
| Year | Taxable result |
| 2016 | 40,000 |
| 2017 | (15,000) |
| 2018 | (5,000) |
| 2019 | 6,000 |
Assuming Demaria makes no special elections with regard to NOLs, what is DeMarias net operating loss carryforward into 2020? $
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Auditing A Risk Analysis Approach
Authors: Larry F. Konrath
5th Edition
032405789X, 9780324057898
