A corporate net operating loss incurred in 2017 can be carried forward for twenty years after being carried back two years.

Question

Quizplus · Accepted Answer

This statement is true according to the current tax laws in the United States. A net operating loss (NOL) incurred in 2017 can be carried forward for twenty years, and it can also be carried back two years to offset taxable income in those years. However, there are some limitations and rules regarding the utilization of NOL deductions, which may vary depending on the type of entity and other factors.

A Corporate Net Operating Loss Incurred in 2017 Can Be