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1. Taxation Individuals - Tax Year 2023 Exam > Business Income and Loss > Flashcards

Business Income and Loss Flashcards

1
Q

Can net operating losses be carried back after 2017?

A

No net operating losses can only carried forward indefinitely.

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2
Q

A 2023 net operating loss deduction is limited to what percentage of taxable income?

A

80%

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3
Q
A
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1. Taxation Individuals - Tax Year 2023 Exam (16 decks)

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