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Which of the following is correct regarding the net operating loss (NOL) deduction for 2024: a.the...

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Accounting

Which of the following is correct regarding the net operating loss (NOL) deduction for 2024: a.the NOL deduction for a tax year is unlimited b.the NOL deduction is limited to the aggregate of NOL carryovers to the tax year, plus NOL carrybacks to the tax year c.the NOL is limited to 80 percent of taxable income computed for the tax year without regard to the NOL deduction allowed for the tax year d.the NOL deduction is limited to the lesser of B and C above

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