In an NOL carryback year, the NOL is combined with the AGI from the return as originally filed or amended. All of the following income items and deductions are recomputed based on the new AGI EXCEPT: Charitable contributions. Taxable social security benefits. IRA deduction. Medical expenses.
In an NOL carryback year, the NOL is combined with the AGI from the return as originally filed or amended. All of the following income items and deductions are recomputed based on the new AGI EXCEPT: Charitable contributions. Taxable social security benefits. IRA deduction. Medical expenses.
Chapter14: Choice Of Business Entity—operations And Distributions
Section: Chapter Questions
Problem 37P
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In an NOL carryback year, the NOL is combined with the AGI from the return as originally filed or amended. All of the following income items and deductions are recomputed based on the new AGI EXCEPT:
Charitable contributions.
Taxable social security benefits.
IRA deduction.
Medical expenses.
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT