If Any Entity Electing S Status Is Currently a C

question 42

Short Answer

If any entity electing S status is currently a C corporation,NOL carryovers from prior years ____________________ be used in an S corporation year.

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Definitions:

Origin

Less movable attachment point of a muscle; usually the medial or proximal end of a muscle associated with the limbs; also called fixed end.

Class I Lever

A type of lever where the fulcrum is placed between the effort and the load, commonly exemplified by a seesaw.

Movable End

A term describing an object or part of a system that is free to move or be manipulated, often used in mechanical contexts.

Skeletal Muscle

A type of striated muscle tissue which is attached to bones and is responsible for the movement of the skeleton.