In 2020, SML Corp. reported taxable income of $100,000 before
any NOL deductions. SML has a $170,000 NOL carryover that
originated in 2017 and a $90,000 NOL carryover that originated in
2018. (Leave no answer blank. Enter zero if
applicable.)
a. What is SML’s 2020 taxable income after the NOL
deduction?
b. What NOLs can SML carry over to 2021?
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