Question: WCC Corporation has a $ 1 5 5 , 0 0 0 net operating loss carryover to 2 0 2 3 from a previous year.

WCC Corporation has a $155,000 net operating loss carryover to 2023 from a previous year. Assume that it reported $86,000 of taxable income in 2023(before the net operating loss deduction) and $85,000 of taxable income in 2024(before the net operating loss deduction).
Required:
What is WCC's taxable income in 2023 and 2024(after the net operating loss deduction), assuming the $155,000 NOL carryover originated in 2017?
What is WCC's taxable income in 2023 and 2023(after the net operating loss deduction), assuming the $155,000 NOL carryover originated in 2022?
Assuming the $155,000 NOL carryover originated in 2022, what is WCC's booktax difference associated with the NOL in 2023 and in 2024? Is it permanent or temporary?

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