Question: Jaime sustained a net operating loss from farming activity in 2023. How will this loss be treated? Carried back five years, and any remaining amounts

Jaime sustained a net operating loss from farming activity in 2023. How will this loss be treated? Carried back five years, and any remaining amounts are carried forward indefinitely. Carried back three years, and any remaining amounts are carried forward up to 20 years. Carried back two years, and any remaining amounts are carried forward indefinitely. No carryback is allowed. The loss is carried forward indefinitely

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