DeMaria Corporation, a calendar year corporation, generates the following taxable income (net operating losses) since its inception

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DeMaria Corporation, a calendar year corporation, generates the following taxable income (net operating losses) since its inception in 2016:

Year .................................. Taxable result
2016 .................................. 40,000
2017 .................................. (15,000)
2018 .................................. (5,000)
2019 ................................... 6,000

Assuming Demaria makes no special elections with regard to NOLs, what is DeMaria’s net operating loss carryforward into 2020?

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Income Tax Fundamentals 2019

ISBN: 9781337703062

37th Edition

Authors: Gerald E. Whittenburg, Steven Gill

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Question Posted: Jun 07, 2020 01:09 AM

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DeMaria Corporation, a calendar year corporation, generates the following taxable income (net operating losses) since its inception

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we can see that Net operating loss of 15000 will be carried ...View the full answer

Income Tax Fundamentals 2019

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