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q 23 A net operating loss: Must always be carried back 2 years Occurs when a company reports a net loss in their incomestatement May

q 23

A net operating loss:

Must always be carried back 2 years

Occurs when a company reports a net loss in their incomestatement

May be carried back 2 years or carried forward up to 20years

Must always be carried forward 20 years

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