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How much of Tyler NOL is carried forward

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Reference no: EM132674717

Problem - Tyler, a single taxpayer, generates a net operating loss of $12,000 in 2017 and elects to forego any carryback. He also generates a net operating loss of $6,000 in 2018. Finally, in 2019, Tyler's business turns a corner and he generates taxable income of $17,000.

Required -

a. How much of Tyler's 2017 NOL is carried forward to 2020?

b. How much of Tyler's 2018 NOL is carried forward to 2020?

Reference no: EM132674717

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