a. What is the NOL carryback and carryover period? b. Does a taxpayer have any choice in
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b. Does a taxpayer have any choice in deciding the years to which the NOL should be carried?
c. Explain the circumstances under which a taxpayer might elect not to use the regular carryback or carryover period.
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a Generally an NOL is carried back 2 years and carried forward for 20 years For NOLs arising in cert...View the full answer
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Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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