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Which statement below is TRUE? a. Corporate capital loss carrybacks can offset corporate ordinary income earned in previous years. b. A corporate capital loss can
Which statement below is TRUE?
a. Corporate capital loss carrybacks can offset corporate ordinary income earned in previous years.
b. A corporate capital loss can be carried back 3 years, and then can be carried forward 5 years.
c. At the election of a corporation, a net capital loss carryback can be foregone and carried forward only.
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