If Any Entity Electing S Status Is Currently a C

question 30

Short Answer

If any entity electing S status is currently a C corporation, NOL carryovers from prior years generally be used in an S corporation year.

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Definitions:

Function

A named section of a program that performs a specific task and can return a value.

Absolute Cell Reference

In spreadsheet applications, a cell reference that remains constant even if the formula containing it is copied to another cell.

Relative Cell Reference

In spreadsheet applications, a cell reference that changes when it is copied or moved to another cell, adjusting its position relative to the new location.

Normal View

The default editing view in many software applications, including Microsoft Word, that shows a document as it would appear on a printed page.