For Corporations, Both NLTCLs and NSTCLs Are Subject to a 3-Year

question 110

True/False

For corporations, both NLTCLs and NSTCLs are subject to a 3-year carryback and a 5-year carryover as an offset against capital gains for those years.

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Definitions:

External Locus

A belief or perception that one's outcomes and experiences are controlled by external forces or outside factors.

Internal Locus

The belief that one's actions and behaviors are guided by personal decisions and efforts, rather than by external factors.

Self-Esteem

A person's overall sense of personal value or worth.

Internal Locus

An individual's belief that they have control over their life events and outcomes, as opposed to external forces having that control.