If a Taxpayer Has a Net Operating Loss (NOL) in 2017

question 46

Multiple Choice

If a taxpayer has a net operating loss (NOL) in 2017 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:

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A feeling of great pleasure and happiness.

Peace

A state of tranquility or quietness of spirit and mind, free from conflict and war.

Pediatric Unit

A hospital department specializing in the care and treatment of children and adolescents.