What is the earliest year to which a corporation can use a net operating loss from 2019?
A)2018
B)The first year after 2019 the corporation's gross income exceeds its tax deductions for the year.
C)The first year after 2021 that the corporation earns any revenues
D)2017

Question

Quizplus · Accepted Answer

A net operating loss (NOL) can be carried back 2 years and forward 20 years. Since 2019 is the loss year, the earliest year to which the NOL can be carried back is 2018.

What Is the Earliest Year to Which a Corporation Can