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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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