Which of the following is allowable as a deduction in calculating a corporation's net operating loss?
A) Charitable contribution deduction.
B) Net capital loss carryback.
C) Net operating loss carryover from other years.
D) Both A and C are deductible in computing the current year NOL.

Question

Quizplus · Accepted Answer

Net capital loss carrybacks and net operating loss carryovers are not deductible in calculating a current year net operating loss.

Which of the Following Is Allowable as a Deduction in Calculating