Excess business lossesin 2020 are carried back and then forward.

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Excess business losses for tax years 2018, 2019, and 2020 could not be carried back to previous tax years but could be carried forward indefinitely to future tax years under the Tax Cuts and Jobs Act and subsequent legislation. The CARES Act temporarily allowed for a carryback of net operating losses from 2018, 2019, and 2020 to the five preceding tax years, but this provision did not apply to excess business losses, which are specifically limited to non-corporate taxpayers.

Excess Business Lossesin 2020 Are Carried Back and Then Forward