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Carryback NOL Five Years

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    #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
    #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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      #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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