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Comic Books Corporation, a calendar year corporation, had a net operating loss of $50,000 for 2010. Comic Books made a proper election to forgo the carryback period. For 2011, Comic Books correctly deducted $40,000 of the 2010 loss. Comic Books will lose the remaining $10,000 if it cannot be deducted by the end of which tax year?

a. 2017

b. 2020

c. 2025

d. 2030

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M966396

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