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Author Question: If an NOL is incurred, when would a taxpayer elect to forgo the carryback period and only carry the ... (Read 27 times)

moongchi

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on: Sep 13, 2020

Question 1

A taxpayer's home is destroyed by fire, resulting in a large casualty loss deduction exceeding the taxpayer's income. The taxpayer will be allowed to carry back and then carry forward a net operating loss due to this personal loss.
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Question 2

If an NOL is incurred, when would a taxpayer elect to forgo the carryback period and only carry the loss deduction forward?
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by moongchi on Sep 13, 2020

tmlewis4706

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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moongchi

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review

frankwu0507

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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