A net operating loss can be carried back three years or carried forward five years.

Name: A net operating loss can be carried back three years or carried forward five years.
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Question

Quizplus · Accepted Answer

Under the current U.S. tax law, net operating losses (NOLs) can be carried forward indefinitely, but they cannot be carried back. Prior to the Tax Cuts and Jobs Act of 2017, NOLs could be carried back two years and forward 20 years.

A Net Operating Loss Can Be Carried Back Three Years