Ask Question
BusinessBusiness
16 February, 19:59

On their December 31, 2019 tax return, Ecogreen, Inc., a C corporation, suffered a difficult year and generated a loss. What are Ecogreen's options for dealing with the loss for tax purposes?

+4
Answers (1)
  1. 16 February, 22:10
    0
    D) Carry the loss forward to reduce income in future years

    Explanation:

    The IRS allows corporations to carry losses both forward and backwards in order for them to reduce their taxable income. A corporation can carry an operating loss back two years, and it can carry them forward up to 20 years in order to reduce taxable income generated in subsequent years. A backwards carryover lowers the taxes that the corporation might owe to the government.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “On their December 31, 2019 tax return, Ecogreen, Inc., a C corporation, suffered a difficult year and generated a loss. What are Ecogreen's ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
A hospital is considering changing its supplier of replacement joints. While surgeons make the final decision, the hospital's purchasing department is promoting Kyocera because it manufactures one of the cheapest and most durable hip joints on the
Answers (1)
Mark purchased a very expensive automobile on credit. Within a week, Mark discovered that a tune-up was necessary, for he was in the habit of driving at an excessive rate of speed. When the car was repaired, the bill was more than $1,000.
Answers (1)
An Indifference curve shows: a. the one most desirable portfolio for a particular investor b. all combinations of portfolios that are equally desirable to a particular investor c.
Answers (1)
Which type of chaining results in the learner being reinforced after they perform the final step in the chain?
Answers (1)
Prepare adjusting entries for the following transactions. 1. Unrecorded interest accrued on savings bonds is $410. 2. Property taxes incurred but not paid or recorded amount to $800. 3. Unearned service revenue of $4,000 was collected in advance.
Answers (2)
New Questions in Business
Why is it necessary for businesses to break their target markets down into segments? O Because that is what customers like O Because businesses like cheap advertising Because customers think it is cool Because businesses cannot serve everyone in the
Answers (1)
What is structured knowledge? a. explicit knowledge that exists in sql format b. tacit knowledge that exists in formal documents c. tacit knowledge that exists in sql format d. any knowledge that is in a structured format recognized by computer e.
Answers (1)
Which of the following best describes an economic system? a system that oversees the production of agricultural goods to be distributed to manufacturers a system that oversees the sale of household products to be bought by families around the
Answers (1)
An investment's time horizon affects the after-tax rate of return on investments taxed annually. true or false
Answers (1)
Which example involves a real world restriction that can affect your decision making process
Answers (1)
Home » Business » On their December 31, 2019 tax return, Ecogreen, Inc., a C corporation, suffered a difficult year and generated a loss. What are Ecogreen's options for dealing with the loss for tax purposes?
Sign Up Forgot Password?