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Identify which of the following statements is true. At the election of a corporation, a net capital loss carryback can be forgone and carried forward
Identify which of the following statements is true.
At the election of a corporation, a net capital loss carryback can be forgone and carried forward only.
Corporate capital loss carrybacks can offset corporate ordinary income earned in previous years.
A corporate capital loss can be carried back three years, and then can be carried forward five years.
All of the above are false.
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