If a Taxpayer Has a Net Operating Loss (NOL)in 2016

question 4

Multiple Choice

If a taxpayer has a net operating loss (NOL) in 2016 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:

Professional Bureaucracy

An organizational structure dominated by professionals who have control over their own work and decision-making processes.

Machine Bureaucracy

A highly structured organizational form that operates through strict procedures and rules, with tasks clearly defined and hierarchical authority.

Direct Management Supervision

A management approach where supervisors closely monitor and directly oversee their employees' work and processes.

Narrower Spans of Control

Organizational structure where a manager supervises a small number of subordinates, leading to closer supervision and more direct manager-employee interaction.