Identify which of the following statements is true.
A) In computing an NOL for the current year, a deduction is allowed for NOLs from previous years.
B) A corporate NOL can be carried back two years and forward 15 years.
C) An NOL incurred before 2018 carries forward 20 years and is not subject to the 80% of taxable income limitation.
D) All of the above are false.
Correct Answer:
Verified
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