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Business, 27.05.2021 03:20 skydom654

U. S. Corporation, a domestic corporation, owns all of Foreign Corporation's stock. Foreign Corporation is incorporated in France. This year, Foreign Corporation is incorporated in France. This year, Foreign Corporation suffers a $100,000 net operating loss (NOL) in France. What amount of the $100,000 NOL can U. S. Corporation use to reduce its current-year U. S. taxable income.

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