Corporations may carry net operating loss sustained in 2015 back two years and forward 20 years.

Question

Quizplus · Accepted Answer

This is generally true. However, there are some limitations and specific rules that may apply depending on the individual corporation's situation. For example, there may be restrictions based on ownership changes or certain types of income. Additionally, the Tax Cuts and Jobs Act of 2017 made changes to net operating loss carrybacks and carryforwards for tax years after 2017.

Corporations May Carry Net Operating Loss Sustained in 2015 Back