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.

---

Definitions:

Prostitution

The act of participating in sexual acts for financial compensation.

Marriage

A legally or culturally sanctioned union between individuals that establishes rights and obligations between them and their children, and between them and their in-laws.

Traditional Family Life

A family structure comprising two parents of different genders and their biological or adopted children, often associated with cultural or societal norms.

AIDS Virus

The Human Immunodeficiency Virus (HIV) causing Acquired Immunodeficiency Syndrome (AIDS), a condition in humans leading to failure of the immune system.