X Corporation started operations in 2020.  In the first year of operations, X-Corp generated a net-operating loss of ($120,000).  For tax year 2021, X-Corp has a taxable income of $100,000.  In 2022, X-Corp generated has taxable income of $60,000.  Which of the following statements is TRUE: Group of answer choices X-Corp may carry only $80,000 of the 2020 loss forward to the year 2021. X-Corp can take $3,000 per year of the loss until it is used up. X-Corp may carry only $100,000 of the 2020 loss forward to the year 2021. X-Corp cannot carry forward any of the loss.

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