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Inc., a calendar year corporation incorporated in January 2006. For each of the years 2006 2010, KAD reported taxable income (loss) before net operating loss deduc¬tion as follows:,2006 $15,000,2007 (20,000),2008 10,000,2009 30,000,2010 (75,000),When filing its tax returns for both 2007 and 2010, KAD did not elect to give up the carry¬back of its losses. ,KAD’s taxable income before the net operating loss deduction for 2011 is $80,000. ,What is the amount of net operating loss carryforward that KAD should deduct on its tax return for 2011?,2)How much can KAD carry forward to years after 2011, if anything?,3)Assume the same facts as in the 1st question except that KAD elected "S" status on march 1 2011 with a retroactive date.For the year 2011 KAD incurred a net operating loss from operations of ($40000),instaed of $80000 of income in the 1st question.,How much can the stockholders of KAD inc. deduct on their individual income tax returns in 2011 as a result of the net operating loss incurred in 2012?

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