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b. maxus corporation generated taxable income/(loss) of $10,000, ($40,000), $45,000, and ($70,000) in 2018, 2019, 2020, and 2021, respectively. what is the nol carryforward to 2022, if any?

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aamirmajeed5100

The NOL Carryforward to 2022 is  $165,000.

An NOL is a net operating loss, which is a type of tax deduction. It occurs when a company or individual has more expenses than income and results in a negative taxable income.

The NOL can be used to offset income in future years, reducing taxable income and resulting in a lower tax liability.

Calculate the net operating loss (NOL) for each year:

2018: $10,000 (taxable income)

2019: ($40,000) (taxable loss)

2020: $45,000 (taxable income)

2021: ($70,000) (taxable loss)

Calculate the cumulative NOL:

Cumulative NOL = ($40,000) + ($70,000) = ($110,000)

Calculate the NOL Carryforward to 2022:

NOL Carryforward to 2022 = ($110,000) - ($45,000) = ($165,000)

For more questions like NOL click the link below:

https://brainly.com/question/16373748

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