An Individual Taxpayer Has Generated a Net Operating Loss in 2015.He

question 24

True/False

An individual taxpayer has generated a net operating loss in 2015.He would like to receive a quick refund by filing a carryback claim on Form 1045.To obtain the quick refund,the taxpayer must file Form 1045 within 90 days after April 15,2016.

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Definitions:

Income

Monetary returns generated consistently through work engagements or investment strategies.

Price

The figure set as the cost or value of a transaction for a product or service in the marketplace.

Apples

A common fruit cultivated worldwide, also used metaphorically to represent simple examples in economic models.

Demand Function

A mathematical expression that specifies the quantity of a good or service purchased at various prices.