Identify which of the following statements is true.
A)Rules for carryforward and carryback of a consolidated net capital loss and a consolidated NOL are the same with the exception of the carryforward period.
B)Capital loss carrybacks and carryforwards are all treated as short-term capital losses.
C)A member leaving an affiliated group cannot use capital loss carryovers that originated in one of its previous separate return years.
D)All of the above are false.

Question

Quizplus · Accepted Answer

Capital loss carrybacks and carryforwards are treated as short-term capital losses regardless of their original classification.

Identify Which of the Following Statements Is True