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If a C corporation incurs a net operating loss in 2017, it may carry the loss back two years and forward 20 years to offset i

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Until tax year 2017, losses could be set off at 100%of the taxable net income. These losses could be carried backward for 2 years and forward for 20 years. However from tax year begining on Jan 1st, 2018 this was changed. Since the given case is pertaining to NOL of tax year 2017. The given statement is incorrect as the 80%limit is applicable for NOL pertaining to tax years 2018 and later. Thus False.

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