DeMaria Corporation, a calendar year corporation, generates the following taxable income (net operating losses) since its inception in 2017 Assuming DeMaria makes no special elections with regard to NOLs, what is DeMarias net operating loss carryforward into 2021 Year 2017 2018 2019 2020 Taxable re...

0 Originally the 2018 and 2019 NOLs coul ...

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 2017:

Year 2017 2018 2019 2020 Taxable result $40,000 (15,000) (5,000) 6,000

Assuming DeMaria makes no special elections with regard to NOLs, what is DeMaria’s net operating loss carryforward into 2021?

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Income Tax Fundamentals 2021

ISBN: 9780357141366

39th Edition

Authors: Gerald E. Whittenburg, Martha Altus-Buller, Steven Gill

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Question Posted: Sep 28, 2023 03:05 AM

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

Question:

Year 2017 2018 2019 2020 Taxable result $40,000 (15,000) (5,000) 6,000

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0 Originally the 2018 and 2019 NOLs coul...View the full answer

Income Tax Fundamentals 2021

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