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Farmer NOL carryback
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11Buster
Level 4
05-24-2022
11:24 AM
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Both IRS publications 225 and 536 basically confirm NOL's arising after tax year 2020 must be carried forward except, in most cases, certain farming operations, in which losses may be carried back 2 years. However, there is language on page 27 of publication 225 "NOL Limitation" referencing 2016. Anyone know if this is a contradiction and/or special rule?
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