The maximum number of years a tax loss can be carried forward is:
A) 3 years.
B) 20 years.
C) 10 years.
D) 17 years.

Name: The maximum number of years a tax loss can be carried forward is: A) 3 years. B) 20 years. C) 10 years. D) 17 years.
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Question

Quizplus · Accepted Answer

The maximum number of years a tax loss can be carried forward is 20 years. This means that if a taxpayer experiences a net operating loss in a given year, they can use that loss to offset taxable income in future years up to a maximum of 20 years.

The Maximum Number of Years a Tax Loss Can Be