Which of the following is allowable as a deduction in calculating a corporation's net operating loss?
A)Charitable contribution deduction.
B)Net capital loss carryback.
C)Net operating loss carryover from other years.
D)Both charitable contribution deduction and net operating loss carryover from other years are deductible in computing the current-year NOL.

Question

Quizplus · Accepted Answer

Charitable contributions are deductible when calculating a corporation's net operating loss, while net capital loss carrybacks and net operating loss carryovers are not deductible in computing the current-year NOL.

Which of the Following Is Allowable as a Deduction in Calculating