Karen has a net operating loss in 2014. If she does not make any special elections, what is the first year to which Karen can carry the net operating loss?

Name: Karen has a net operating loss in 2014. If she does not make any special elections, what is the first year to which Karen can carry the net operating loss?
Brand: Quizplus
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Question

Karen has a net operating loss in 2014. If she does not make any special elections, what is the first year to which Karen can carry the net operating loss? ​

Quizplus · Accepted Answer

A net operating loss (NOL) can be carried back 2 years and forward 20 years. Since 2014 is the loss year, the first year to which the NOL can be carried is 2012.

Karen Has a Net Operating Loss in 2014