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Please do all calculations with all steps Q) Company XYZ in previous three years (2016,17,18) has lost $1,000,000 in each year. From 2019 and 2020

Please do all calculations with all steps

Q) Company XYZ in previous three years (2016,17,18) has lost $1,000,000 in each year. From 2019 and 2020 it is making $ 1,500,000 per year. Please show how this situation can be compensated in these two years.

  1. Show this working in table format
  2. How much Tax saving will be enjoyed for this company due to carryforward, Tax Bracket is 40%.

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