NOL Carryovers from C Years Can Be Used in an S

question 6

True/False

NOL carryovers from C years can be used in an S corporation year against ordinary income.

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Definitions:

Tarry Feces

Refers to stool that is dark and sticky, often resembling tar, which can indicate gastrointestinal bleeding.

Digested Blood

Blood that has been broken down and metabolized, often referring to its appearance in medical contexts.

Gloss/o

A prefix related to the tongue, often used in medical terms related to the tongue or speech.

Hepat/o

A prefix used in medical terminology to refer to the liver, utilized in terms denoting liver-related conditions or anatomy, such as hepatitis (inflammation of the liver).