For the year ended December 31, 2014, Taylor Corp. had a net operating loss of $200,000. Taxable income for the earlier years of corporate existence, computed without reference to the net operating loss, was as follows: Taxable income 2009: $5,000 2010: $10,000 2011: $20,000 2012: $30,000 2013: $40,000 If Taylor makes NO special election to waive a net operating loss carryback period, what amount of net operating loss will be available to Taylor for the year ended December 2015?

For the year ended December 31, 2014, Taylor Corp. had a net operating loss of $200,000. Taxable income for the earlier years of corporate existence, computed without reference to the net operating loss, was as follows:
Taxable income
2009: $5,000
2010: $10,000
2011: $20,000
2012: $30,000
2013: $40,000
If Taylor makes NO special election to waive a net operating loss carryback period, what amount of net operating loss will be available to Taylor for the year ended December 2015?

a. $200,000
b. $130,000
c. $110,000
D. $95,000




Answer: B

Tax

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