While a C Corporation's Losses Cannot Be Used by Their

Multiple Choice

While a C corporation's losses cannot be used by their shareholders to offset personal income, a C corporation may carry back and carry forward losses to help offset thetaxable income a corporation had or will have. How are these net operating losses carried back and carried forward?

A) Carried back two years, carried forward five years.
B) Carried back indefinitely, carried forward two years.
C) Carried back two years, carried forward twenty years.
D) Carried back two years, carried forward indefinitely.
E) None of the choices are correct.