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WCC Corp. has a $145,000 net operating loss carryover into 2020. Assume that it reported $84,000 of taxable income in 2020 (before the net operating loss deduction) and $75,000 of taxable income in 2021 (before the net operating loss deduction). Assume CARES Act applies. (Leave no answer blank. Enter zero if applicable.)

rev: 10_16_2020_QC_CS-231569

CARES Problem 13-65 Part c (Algo)

c. Assuming the $145,000 NOL carryover originated in 2019, what is WCCs book-tax difference associated with the NOL in 2020 and in 2021 and identify the book tax difference for each year as permanent or temporary?

(The difference in 2020 answer is not 67200 it's wrong!)