Which of the following statements is false for a C corporation that incurred a net operating loss for a tax year beginning before 2018? Multiple Choice If it carries back the NOL and/or carries it forward, it may offset up to 80 percent of the taxable income (before the NOL deduction) in those years. It may carry the NOL forward for up to 20 years and offset up to 100 percent of the taxable income (before the NOL deduction) in those years. It may carry the NOL back two years and offset up to 100 percent of the taxable income (before the NOL deduction) in those years. None of these (selecting this option means you believe all of the other responses are true).
If it carries back the NOL and/or carries it forward, it may offset up to 80 percent of the taxable income (before the NOL deduction) in those years.
It may carry the NOL forward for up to 20 years and offset up to 100 percent of the taxable income (before the NOL deduction) in those years.
It may carry the NOL back two years and offset up to 100 percent of the taxable income (before the NOL deduction) in those years.
None of these (selecting this option means you believe all of the other responses are true).
