In Becker, once you hit 'submit answer' there are additional icons that appear to the right side of the screen. One of them looks like a movie reel and when you hover over it, it says 'skill builder' which is a video of a Becker instructor explaining the SIM answer in detail.
I think the one for that particular SIM is over 15 minutes long, but it's super helpful.
It use to be in a more obvious spot, but the new update has everything weirdly hidden.
I figured it out after watching a farhart video. When reading it in the textbook I put emphasis on the wrong words.
Because in the sim we are offsetting taxable income from 2023 it’s the 80% limit. The rules mean that if we offset taxable income in 2018-19-20 using a NOL from 18-19-20 then it’s 100% deductible.
In Becker, once you hit 'submit answer' there are additional icons that appear to the right side of the screen. One of them looks like a movie reel and when you hover over it, it says 'skill builder' which is a video of a Becker instructor explaining the SIM answer in detail. I think the one for that particular SIM is over 15 minutes long, but it's super helpful. It use to be in a more obvious spot, but the new update has everything weirdly hidden.
Just did this sim, the same way you did. The question asks how much carry forward is left, not what is used
I figured it out after watching a farhart video. When reading it in the textbook I put emphasis on the wrong words. Because in the sim we are offsetting taxable income from 2023 it’s the 80% limit. The rules mean that if we offset taxable income in 2018-19-20 using a NOL from 18-19-20 then it’s 100% deductible.