The Net Operating Loss (NOL)provisions of the Internal Revenue Code

The net operating loss (NOL) provisions of the Internal Revenue Code ​

A) Apply only to individuals with wages,itemized deductions,and personal exemptions.
B) Require the use of a 2-year carryback in all cases.
C) Are primarily designed to provide relief for trade or business losses.
D) Allow the deduction for home mortgage interest to create an NOL.
E) Would not be necessary if tax rates were progressive.