A corporation can elect to carry a capital loss back first to the third preceding tax year before it is carried forward five years; alternatively, it can elect to only carry the capital loss forward.

Question

Quizplus · Accepted Answer

Corporations can carry a capital loss back to the three preceding tax years and then carry it forward for five years, but they cannot elect to only carry it forward without first carrying it back.

A Corporation Can Elect to Carry a Capital Loss Back