NOLs arising in tax years ending after 2017 carry over to subsequent tax years indefinitely.

Name: NOLs arising in tax years ending after 2017 carry over to subsequent tax years indefinitely.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The Tax Cuts and Jobs Act of 2017 eliminated the two-year carryback period for net operating losses (NOLs) but now allows NOLs to be carried forward indefinitely. This provision is effective for NOLs arising in tax years ending after December 31, 2017. Therefore, the statement is true.

NOLs Arising in Tax Years Ending After 2017 Carry Over