Identify Which of the Following Statements Is True

question 61

Multiple Choice

Identify which of the following statements is true.

• A)A corporate capital loss can be carried back three years,and then can be carried forward five years.
• B)Corporate capital loss carrybacks can offset corporate ordinary income earned in previous years.
• C)At the election of a corporation,a net capital loss carryback can be forgone and carried forward only.
• D)All are false.

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