1
Q
What is the NOL rule from 2018-2020?
A
Carried back 5 years and forward indefinitely
2
Q
How does a shareholder recognize dividend income?
A
to the extent of cash received + FMV of noncash property received
3
Q
What are 2 things that a personal holding company deducts in computing taxable income?
A
Federal income taxes
Net LTCG
4
Q
What is a result in a liquidation - what is a result if FMV exceeds basis?
A
G/L
