Section 384 Limitation. On December 31, 2014 Profitable Corporation merged into Loss Corporation. Profitable Corporation's only asset is land with fair market value of $1 million and a basis of $500,000. Loss Corporation has a 5 million NOL carryover from 2013. In 2015, Loss Corporation breaks even on its operations. In Addition Loss Corporation sold the land acquired from Profitable for $1 million. Compute Loss Corporation's taxable income for 2015.