Current Attempt in Progress

A net operating loss $($NOL$)$ occurs for tax purposes in a year when tax$-$deductible expenses exceed taxable revenues. Companies can reduce future taxable income on the amount of NOL in the following way:

must always be carried forward $20$ years.

may be carried back $2$ years or carried forward up to $20$ years.

must always be carried back $2$ years.

may carry the net operating loss forward indefinitely.

Attempts: $0$ of $1$ used $$