LO 16-2 44. B12 Corp. is currently in the sixth year of its existence (2022)....
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LO 16-2 44. B12 Corp. is currently in the sixth year of its existence (2022). In 2017-2021, it reported the following income and (losses) (before net operating loss carryovers or carrybacks). 2017 2018 2019 2020 2021 2022 $ (70,000) (30,000) 60,000 140,000 (225,000) 300,000 What is B12's 2022 taxable income after the NOL deduction (assume it does not elect to forgo any carrybacks, if applicable)? What is its 2022 book-tax difference associated with its NOL? Is it favorable or unfavorable? Is it permanent or temporary? Page 16-37
44. B12 Corp. is currently in the sixth year of its existence (2022). In 2017-2021, it reported the following income and (losses) (before net operating loss carryovers or carrybacks). What is B12's 2022 taxable income after the NOL deduction (assume it does not elect to forgo any carrybacks, if applicable)? What is its 2022 book-tax difference associated with its NOL? Is it favorable or unfavorable? is it. permanent or temporary? Page 16-37
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