DTA, DTL, Valuation Allowance

Question 1

You have a NOL carrforward of $1,000 and a DTL arising from depreciation of $1,000 to reverse over 5 years (straightline). There are no other sources of taxable income and Carrforwards under TCJA can only offset 80% of income in a given year. What is the valuation allowance needed if any

Answer 1