Problem 4-16 Net Operating Losses (LO 4.9) Tyler, a single taxpayer,...

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Accounting

Problem 4-16
Net Operating Losses (LO 4.9)
Tyler, a single taxpayer, generates business income of $3,000 in 2020. In 2021, he generates an NOL of $5,000. In 2022, he generates business
income of $1,000. In 2023, his business generates income of $1,100. What is Tyler's NOL carryforward into 2024, if any?
His 2021 NOL cannot be
and can only be
. He can offset $
X of his 2022 income
leaving a
x NOL to
into 2023. He can offset $
x of his 2023 income leaving an NOL
carryforward of $
X into 2024.
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