If a C Corporation Incurred a Net Operating Loss in 2017

question 72

True/False

If a C corporation incurred a net operating loss in 2017, it could carry the loss back two years and forward 20 years to offset income in those years. However, it may offset only 80 percent of the taxable income before the NOL deduction in those years.

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Definitions:

Better Place

Often refers to an improved condition or location, suggesting a situation or setting that is more desirable or advantageous than another.

Death of Parent

The passing away of a mother or father, which is a significant life event for their offspring.

Stronger Sense of Self

The development of a more robust and defined understanding and awareness of one’s identity and personal qualities.

Own Mortality

An individual's awareness of their eventual death and the finite nature of life.