For 2024, the maximum amount of taxable income that can be offset with non-farm net...

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Accounting

For 2024, the maximum amount of taxable income that can be offset with non-farm net operating loss (NOL) deductions is __________.
80%, and the NOL can be carried forward indefinitely.
100%, and the NOL can be carried forward indefinitely.
80%, and the NOL must be carried back five years with any remaining amount carried forward to future years.
100%, and the NOL carryforward is limited to five years.

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