Question: 1. The Internal Revenue Code allows corporations to carry operating losses back or forward for the following times periods: Carryback Carryforward a. 2 years 20

1. The Internal Revenue Code allows corporations to carry operating losses back or forward for the following times periods:

Carryback

Carryforward

a.

2 years 20 years

b.

0 years Indefinite years

c.

15 years 3 years

d.

5 years 17 years

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