Multiple Choice
Which of the following statements is true for a C corporation incurring a NOL for a tax year that begins in 2020?
A) It may carry the NOL back two years and forward 20 years.
B) It may not carry the NOL back to prior years but it may carry it forward 20 years.
C) It may not carry the NOL back to prior years but it can carry the loss forward indefinitely.
D) It may carry the loss back two years and carry the loss forward indefinitely.
E) None of the choices is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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