ZZZ Company had $750,000 cumulative operating losses prior to the beginning of last year. It...
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ZZZ Company had $ cumulative operating losses prior to the beginning of last year. It had $ in pretax earnings last year before using the past operating losses. It has $ in the current year pretax earnings before using the past operating losses. It projects $ pretax earnings next year. Note the maximum allowed carryforward loss is limited to of the unadjusted taxable operating income.
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