Identify Which of the Following Statements Is True

question 25

Multiple Choice

Identify which of the following statements is true.

• A)Rules for carryforward and carryback of a consolidated net capital loss and a consolidated NOL are the same with the exception of the carryforward period.
• B)Capital loss carrybacks and carryforwards are all treated as short-term capital losses.
• C)A member leaving an affiliated group cannot use capital loss carryovers that originated in one of its previous separate return years.
• D)All of the above are false.

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Definitions:

Privacy

The right of individuals to keep their personal information out of public view and control the dissemination of that information.

Reclusive

A person or lifestyle characterized by withdrawal from society or preferring solitude and isolation from others.

Actual Malice

Knowledge of falsity or reckless disregard for the truth, especially in defamation law regarding public figures.