In 2022 Hill Corporation reported a net operating loss of $10,000 that it carried forward to 2023.
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In 2022 Hill Corporation reported a net operating loss of $10,000 that it carried forward to 2023. In 2022 Hill also reported a net capital loss of $3,000 that it carried forward to 2023. In 2023, ignoring any carryovers from other years, Hill reported a loss for tax purposes of $50,000. The current-year loss includes a $12,000 net capital gain. What is Hill’s 2023 net operating loss?
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Related Book For 
Taxation Of Individuals And Business Entities 2023 Edition
ISBN: 9781265790295
14th Edition
Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham
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