Carryback NOL Five Years

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  • Maria
    Member
    • Feb 2007
    • 67
    #1

    Carryback NOL Five Years

    Hello,

    My client is a small business C Corp. We have used up the 2-year carryback. I have researched on the 5 years carry back but it seems it is not available to C corporations. Can someone confirm with me? I need to let my client know as soon as possible.

    Thanks so much.
    Tags: None
    • kaimana
      Member
      • Apr 2009
      • 90
      #2
      Does the corp qualify as a small business by IRS standards?
      DIY programs are not a replacement for a good tax pro

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        • BHoffman
          Senior Member
          • Feb 2008
          • 1768
          #3
          Maria - I'm finding the election is available for C-Corps.

          See Rev Proc 2009-26

          http://www.irs.gov/pub/irs-drop/rp-09-26.pdf

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