If a Taxpayer Has a Net Operating Loss (NOL) in 2017

question 46

Multiple Choice

If a taxpayer has a net operating loss (NOL) in 2017 of $20,000, of which $8,000 is attributable to a theft of rental use property, the taxpayer may:

• A)Carry all of the NOL of $20,000 back 5 years.
• B)Carry all of the NOL of $20,000 back 3 years.
• C)Carry $8,000 of the NOL back 3 years and the remainder of the NOL of $12,000 back 2 years.
• D)All of the above.
• E)None of the above.

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Definitions:

Nontraditional Students

Individuals who pursue higher education or training later than conventional ages or who may deviate from the traditional pathway of attending college directly after high school.

Higher Paying Careers

Occupations that offer significantly higher financial compensation compared to the median salary, often requiring specialized skills, higher education, or significant experience.

High School Degree

A certificate of completion awarded to students who have successfully met the required criteria of education at the secondary school level.

Unskilled

Lacking specialized skill, training, or proficiency in a particular area or job.