LMNO was formed in 2008. It reported net income (loss) over the 2008 through 2014 tax years, before accounting for any net operating losses, as follows:
2008………………………$ (4,000)
2009………………………$ 19,000
2010………………………$ 23,000
2011…………………….$ (31,000)
2012………………………$ 11,000
2013……………………..$ ( 8,000)
2014………………………..$ 3,000
a. Determine annual taxable income after accounting for any net operating losses for 2008 to 2014, assuming the does not waive the carryback period. Also determine any NOL carryforward to 2015.
b. Determine annual taxable income after accounting for any net operating losses for 2008 to 2014, assuming the waives the carryback period. Also determine any NOL carryforward to 2015.
Enjoy 24/7 customer support for any queries or concerns you have.
Phone: +1 213 3772458
Email: support@gradeessays.com