Which of the following statements regarding net operating losses is true?
A) You may only carry the loss forward 20 years.No carrybacks are allowed.
B) A net operating loss may be generated by a large medical deduction.
C) You may select which years would be most beneficial to deduct the net operating loss.
D) You may make an irrevocable election to opt out of carrying the loss back 2 years.
Correct Answer:
Verified
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