A Large Corporation Had a Net Long-Term Capital Loss in 2019

question 27

Multiple Choice

A large corporation had a net long-term capital loss in 2019 and net operating loss in 2019.What are the earliest year(s) to which these losses can be carried?

• A)2014 for both
• B)2020 for both
• C)2016 for the capital loss; 2014 for the NOL
• D)2016 for the capital loss; 2020 (or the first subsequent year with net income) for the NOL

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Definitions:

Seminal Fluid

A fluid that is secreted by the male reproductive organs and contains sperm cells, which are necessary for fertilization.

Prefrontal Cortex

The area of the cortex at the very front of the brain that specializes in anticipation, planning, and impulse control.

Cognitive Control

The mental ability to regulate and manipulate one's own cognitive processes, such as focusing attention, controlling impulses, and planning.

Sexual Maturation

The process by which individuals reach a state of full reproductive ability.