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Level 5
Aug 11, 2020 10:18 PM UTC
Question

NOLs

Can a C corporation use a pre-2018 NOL carryforward and combine it with a 2018 NOL, then carry the entire amount back to, in this case, 2013 and subsequent years?  Is there any guidance on this yet from IRS?

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1 reply

sjrcpa
Level 15
Aug 11, 2020 10:35 PM UTC

Been a while since I had multiple years NOLs but I believe you use them in the order they arose. The pre 2018 ones follow the pre 2018 rules for carryback/carryover and the 2018 and 2019 NOLs follow the new rules for 5 year carryback.

The more I know the more I don’t know.