Question
Which of the following statements is true for a C corporation incurring a net operating loss (NOL) for a tax year that begins in 2019?
Which of the following statements is true for a C corporation incurring a net operating loss (NOL) for a tax year that begins in 2019?
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It may carry the NOL back two years and forward 20 years.
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It may not carry the NOL back to prior years but it may carry it forward 20 years.
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It may not carry the NOL back to prior years but it can carry the loss forward indefinitely.
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It may carry the loss back two years and carry the loss forward indefinitely.
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None of the choices are correct.
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Data And Analytics In Accounting An Integrated Approach
Authors: Guido Geerts, Ann C. Dzuranin, Margarita Lenk
1st Edition
1119722993, 978-1119722991
