Generally, corporate net operating loss can be carried back 3 years and forward 5 years to offset taxable income for those years.

Name: Generally, corporate net operating loss can be carried back 3 years and forward 5 years to offset taxable income for those years.
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Question

Quizplus · Accepted Answer

Under the Tax Cuts and Jobs Act of 2017, net operating losses (NOLs) for corporations can no longer be carried back but can be carried forward indefinitely, with limitations on the amount that can be used to offset taxable income.

Generally, Corporate Net Operating Loss Can Be Carried Back 3