Which of the Following Statements Regarding Net Operating Losses Generated

question 21

Multiple Choice

Which of the following statements regarding net operating losses generated in 2019 is true?

• A) Corporations can carry NOLs back two years and forward up to 20 years.
• B) A corporation can carryover the NOL indefinitely.
• C) A corporation can carry NOLs back two years and forward indefinitely.
• D) When a corporation applies a net operating loss carryover, it reports a favorable, permanent book-tax difference in the amount of the applied carryover.
• E) None of these is a true statement.

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