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Pretax accounting income and taxable income

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Reference no: EM13304308

Carlson Corp. reported the following pretax accounting income and taxable income for its first three years of operations:

2012 $ 400,000

2013 (700,000)

2014 800,000

Carlson's tax rate is 40% for all years. Carlson elected a loss carryback.

Carlson was certain it would recover the full tax benefit of the NOL. What would it report on December 31, 2013, as the deferred tax asset for the NOL carryforward?



$280,000.


$200,000.


$120,000.


$ 0.

Reference no: EM13304308

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