List the four possible sources of taxable income that a company should consider when assessing the realizability of a deferred tax asset under U. S. GAAP

What will be an ideal response?

Answer:
1. Future reversals of existing taxable temporary differences.
2. Future taxable income exclusive of reversing temporary differences and carryforwards.
3. Taxable income in prior carryback year(s) if carryback is permitted under the tax law.
4. Tax planning strategies that would, if necessary, be implemented.