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i need the answer quickly BlubBlu Ca experienced the following time Line Of Taxable Income before the effects OF Net Operating Loss carry backs and
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BlubBlu Ca experienced the following time Line Of Taxable Income before the effects OF Net Operating Loss carry backs and carry- Fowards. Taxble Income before the effects of Net Operating Loss cgory and carry Forwards year backs 2017 $ 160 2018 - $206 2019 $ 110 Under the U-s. Tax cuts and Jobs Act of 2017 (TcJA), net operating Losses connot 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 year. The Federal corporate Income tax. After taking into consideration the effects of Net operating Loss carrybacks and carry Forwards, a swellas the limitations on using carry forwards under the TCJA, by how much did Blub Blub Co.'s deferred Tax assets de coease in 2019Step by Step Solution
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