Paolo Corp. generated the following income /(loss) since its 2019 inception: Year Income/(loss) 2019 (5,000) 2020 7,000 2021 14,000 2022 (20,000) If Paolo generates $4,000 of income in 2023, what is the NOL carryforward to 2024? a. $20,000 b. $3,200 c. $16,800 d. $800
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Year | Income/(loss) |
2019 | (5,000) |
2020 | 7,000 |
2021 | 14,000 |
2022 | (20,000) |
If Paolo generates $4,000 of income in 2023, what is the NOL carryforward to 2024?
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