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In 2021, JP Corp. reported a $500,000 net operating loss (NOL). In 2022, JP reported taxable income of $600,000 before any NOL carryovers. What is

In 2021, JP Corp. reported a $500,000 net operating loss (NOL). In 2022, JP reported taxable income of $600,000 before any NOL carryovers. What is JPs taxable income in 2022 after the NOL deduction? Assume TCJA rules apply.

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