A Corporation Generates a $200,000 Net Operating Loss in 2018

question 80

Multiple Choice

A corporation generates a $200,000 net operating loss in 2018.In 2019 its taxable income from 2019 activities is $220,000.The corporation will be allowed an NOL deduction of

• A)$220,000.
• B)$200,000.
• C)$176,000.
• D)$160,000.

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Definitions:

Genetic Abnormality

An unusual condition in an organism resulting from changes in its DNA sequence or chromosome structure.

Trait

A specific characteristic or attribute of an organism that can be inherited or determined by genes.

Six Fingers

A condition known as polydactyly, where an individual has an extra digit on the hand or foot.

X-Linked Recessive Disorder

A genetic disorder carried on the X chromosome, where males are typically more affected due to having only one X chromosome.