In 2022, SML Corp. reported taxable income of $100,000 before any NOL deductions. SML has a $170,000
Question:
In 2022, SML Corp. reported taxable income of $100,000 before any NOL deductions. SML has a $170,000 NOL carryover that originated in 2017 and a $90,000 NOL carryover that originated in 2020. What is SML’s 2022 taxable income after the NOL deduction (assuming it elects to forgo any NOL carryback)? What NOLs can SML carry over to 2023?
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Related Book For 
Taxation Of Individuals And Business Entities 2023 Edition
ISBN: 9781265790295
14th Edition
Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham
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