If a C corporation incurs a net operating loss in 2020, it may carry the loss back two years and forward 20 years to offset income in those years.

Question

Quizplus · Accepted Answer

Under the CARES Act, net operating losses (NOLs) arising in tax years beginning in 2018, 2019, and 2020 can be carried back five years and carried forward indefinitely, changing the previous limitation of carrying back two years and forward 20 years.

If a C Corporation Incurs a Net Operating Loss in 2020