A loss incurred by a corporation a must be carried back

Question

A loss incurred by a corporation

a. must be carried back 2 years before being carried forward for 5 years.

b. can be carried forward indefintely.

c. can be carried back 5 years and forward 3 years.

d. cannot be used to reduce taxes in other years except with special permission from the IRS.

e. can be carried back 3 years or forward 10 years, whichever is more advantageous to the firm.

Answer

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