Melvin sustained a NOL for farming activity in 2020 he filed an extension and will file by

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Melvin sustained a NOL for farming activity in 2020 he filed an extension and will file by October 15, 2021 which is not a valid option for claiming the loss A. loss may be carried back 3 years and forward 20 years using pre TCJA B. loss may be carried 5 years forward and indefinitely using care act C. Melvin can disregard CARES act carry loss back 2 years or forward indefinitely D. Melvin can elect to waive carryback period and carry loss forward indefinitely.

Posted Date: Sep 28, 2021 04:25 AM

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Melvin sustained a NOL for farming activity in 2020 he filed an extension and will file by

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Correct answer the loss may be carried back three years and forward 20 years using the preTCJA Expl... View the full answer

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