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  3. 26. identify which of the following statements is

26. Identify which of the following statements is true. A) A corporate capital loss can...

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Accounting

26. Identify which of the following statements is true.

A) A corporate capital loss can be carried back three years, and then can be carried forward five years.

B) Corporate capital loss carrybacks can offset corporate ordinary income earned in previous years.

C) At the election of a corporation, a net capital loss carryback can be forgone and carried forward only.

D) All of the above are false.

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