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WCC Corporation has a $125,000 net operating loss carryover to 2022 from a previous year. Assume that it reported $80,000 of taxable income in 2022
WCC Corporation has a $125,000 net operating loss carryover to 2022 from a previous year. Assume that it reported $80,000 of taxable income in 2022 (before the net operating loss deduction) and $55,000 of taxable income in 2023 (before the net operating loss deduction). Note: Leave no answer blank. Enter zero if applicable. Required: What is WCC's taxable income in 2022 and 2023 (after the net operating loss deduction), assuming the $125,000 NOL carryover originated in 2017? What is WCCs taxable income in 2022 and 2023 (after the net operating loss deduction), assuming the $125,000 NOL carryover originated in 2021? Assuming the $125,000 NOL carryover originated in 2020, what is WCCs booktax difference associated with the NOL in
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