The deduction for non corporate excess business losses in curd in 2021 is: disallowed and must be treated as net operating losses limited to 50% of other income fully deductible against non business income carried back to the prior two years and then carried forward indefinitely

The deduction for non corporate excess business losses in curd in 2021 is: disallowed and must be treated as net operating losses limited to 50% of other income fully deductible against non business income carried back to the prior two years and then carried forward indefinitely

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter11: The Corporate Income Tax

Section: Chapter Questions

Problem 5MCQ

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The deduction for non corporate excess
business losses in curd in 2021 is: disallowed
and must be treated as net operating losses
limited to 50% of other income fully
deductible against non business income
carried back to the prior two years and then
carried forward indefinitely

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