If an estate is being terminated but has an NOL carryforward on the final income tax return,

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If an estate is being terminated but has an NOL carryforward on the final income tax return, which of the following best describes the tax options for the NOL?

a. It expires unused.

b. It can be included on the return of the estate beneficiaries.

c. It can be deducted on the estate’s final return and create a refund.

d. It can be used to lower any estate taxes.

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Income Tax Fundamentals 2023

ISBN: 9780357719527

41st Edition

Authors: Gerald E. Whittenburg, Steven Gill

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Question Posted: Feb 28, 2023 07:27 AM

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If an estate is being terminated but has an NOL carryforward on the final income tax return,

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Income Tax Fundamentals 2023

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