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Author Question: A taxpayer incurs a net operating loss in the current year. With respect to the application of the NOL, (Read 58 times)

piesebel

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on: Sep 13, 2020
A taxpayer incurs a net operating loss in the current year.  With respect to the application of the NOL,
◦ the taxpayer will carry back the NOL three years first, then carry forward any balance for five years.
◦ the taxpayer must carry forward the loss and has up to 20 years to use it.
◦ the taxpayer can carry forward the loss indefinitely until there is sufficient taxable income to use it up.
◦ the taxpayer will first carry back the NOL for two years, then carryforward the balance for a period of 20 years, or the taxpayer can elect to only carry forward the loss for the 20-year allowable period.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by piesebel on Sep 13, 2020

frre432

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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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piesebel

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

matt95

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Reply 3 on: Yesterday
Wow, this really help

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