Question
In a NOL carryback year, the NOL is combined with the AGI from the return as originally filed or amended. All of the following itemized
In a NOL carryback year, the NOL is combined with the AGI from the return as originally filed or amended. All of the following itemized deductions are recomputed based on the new AGI EXCEPT:
A) Charitable contributions.
B) Casualty and theft loss deduction.
C) Miscellaneous itemized deductions subject to the 2%-of-AGI limitation.
D) Medical expenses.
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Company Accounting
Authors: Ken Leo, John Hoggett, John Sweeting, Jennie Radford
8th Edition
0470819731, 978-0470819739
