The Carryover Period for the NOLs of a C Corporation

question 80

True/False

The carryover period for the NOLs of a C corporation continues to run during S corporation years.

---

Definitions:

Duress

A situation where a person performs an act as a result of violence, threat, or pressure against them.

Breach of Contract

The violation of any terms or conditions in a contract without a lawful excuse.

Spelling Mistake

An error in the arrangement of letters within a word, leading to incorrect spelling and sometimes misunderstanding.

Illegality of Object

The principle that a contract is void if it involves actions or outcomes that are illegal or against public policy.