Cedar Corporation reported a $25,000,000 net operating loss in 2020. In 2021, Cedar reported taxable income before
Question:
Cedar Corporation reported a $25,000,000 net operating loss in 2020. In 2021, Cedar reported taxable income before any NOL carryovers of $20,000,000. What is Cedar’s taxable income in 2021 after the NOL deduction and what is its NOL carryover, if any, to 2022?
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Because the NOL arose in 2020 the carryover cannot reduce taxa...View the full answer
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Related Book For 
Taxation Of Individuals And Business Entities 2021
ISBN: 9781260247138
12th Edition
Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham
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