Multiple Choice
Which of the following statements is incorrect with respect to the treatment of net operating losses by corporations?
A) A corporation may elect to forgo the carryback period and just carryforward an NOL.
B) A corporation may claim a dividends received deduction in computing an NOL.
C) An NOL is generally carried back 2 years and forward 20 years.
D) Unlike individuals, corporations do not adjust their NOLs for net capital losses or nonbusiness deductions.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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