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In 2022 , SML Corporation reported taxable income of $100,000 before any NOL deductions.
SML has a $170,000 NOL carryover that originated in 2017 and a $90,000 NOL carryover that
originated in 2020. Note: Leave no answer blank. Enter zero if applicable. Required: a. What is
SML's 2022 taxable income after the NOL deduction (assuming it elects to forgo any NOL
carryback)? b. What NOLs can SML carryover to 2023 ?

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In 2022 , SML Corporation reported taxable income of $100,000 before .pdf

  • 1. In 2022 , SML Corporation reported taxable income of $100,000 before any NOL deductions. SML has a $170,000 NOL carryover that originated in 2017 and a $90,000 NOL carryover that originated in 2020. Note: Leave no answer blank. Enter zero if applicable. Required: a. What is SML's 2022 taxable income after the NOL deduction (assuming it elects to forgo any NOL carryback)? b. What NOLs can SML carryover to 2023 ?