Jokers Company reported the following:   How much of the net operating loss from 2019 cannot be be used as NOLCO?   How much is the taxable income for 2025?

SWFT Individual Income Taxes
43rd Edition
ISBN:9780357391365
Author:YOUNG
Publisher:YOUNG
Chapter7: Deductions And Losses: Certain Business Expenses And Losses
Section: Chapter Questions
Problem 28CE
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Jokers Company reported the following:
 
How much of the net operating loss from 2019 cannot be be used as NOLCO?
 
How much is the taxable income for 2025?
2019
2020
2021
2022
2023
2024
2025
Gross Income
6,800,000 5,600,000 8,200,000 8,000,000 8,500,000 9,000,000 9,100,000
Allowable Deductions
7,700,000 7,800,000 8,100,000 8,300,000 7,900,000 8,000,000 7,800,000
Transcribed Image Text:2019 2020 2021 2022 2023 2024 2025 Gross Income 6,800,000 5,600,000 8,200,000 8,000,000 8,500,000 9,000,000 9,100,000 Allowable Deductions 7,700,000 7,800,000 8,100,000 8,300,000 7,900,000 8,000,000 7,800,000
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