2018 and prior year NOLs - Spidell

2018 and prior year NOLs

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Message Board 2018 and prior year NOLs

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    • #268806
      Jim Mannie
      Participant

      Can a C corporation use a pre-2018 NOL carryforward amount, 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?

    • #268971
      David Ellis
      Participant

      I have not seen anything on this  yet……but my thought is that for  pre 2018 NOLs, the  carry-back was automatic unless you elected to  carry-forward.    I do not  see how  you can  undo  that carry-forward   election at this  time.  On the  other hand,   if  you  carried back the  the  pre-2018  loss until it was used up ….and  the  balance  was  carried-forward, then  it might  be a different story. Interesting question!

    • #269615
      Jim Mannie
      Participant

      Yeah, everything I see pertaining to an NOL for 2018, 2019, or 2020 uses the verbiage “incurred” in those years, so I don’t think you can.

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