Corporations may carry a net operating loss sustained in the current year back two years and forward 20 years.

Name: Corporations may carry a net operating loss sustained in the current year back two years and forward 20 years.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is true. According to the Internal Revenue Service (IRS), corporations may carry back a net operating loss for two years and forward for up to 20 years to offset taxable income.

Corporations May Carry a Net Operating Loss Sustained in the Current