A corporate net operating loss can be carried back 2 years and forward 20 years to offset taxable income for those years.

Question

Quizplus · Accepted Answer

This statement is true. A corporation can carry back a net operating loss for two years prior to the loss and apply it as a deduction against taxable income for those years. It can also carry the loss forward for up to 20 years to offset future taxable income.

A Corporate Net Operating Loss Can Be Carried Back 2