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Level 3
October 13, 2021
Solved

NOL carryback

  • October 13, 2021
  • 1 reply
  • 17 views

I just amended a 2019 Form 1040 which created an NOL.  Can I still carry that NOL back to 2014 under the CARES Act?  The 2014 income tax return was extended until October 15, 2015.

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Best answer by BobKamman

The SOL for 2019 returns that were due 4/15/20 expires on 4/15/23. Same date applies to carrybacks from 2019.  

1 reply

sjrcpa
Level 15
October 13, 2021

Yes you can. The point of reference is the 2019 NOL not the 2014 carryback year.

The more I know the more I don’t know.
Level 3
October 14, 2021

But don't I have to get this postmarked by October 15?  Two days?

BobKamman
BobKammanAnswer
Level 15
October 14, 2021

The SOL for 2019 returns that were due 4/15/20 expires on 4/15/23. Same date applies to carrybacks from 2019.