Sole Proprietorship - Schedule C
Carryback current years business loss?
Answer:
You can carryback your current years loss 2 years then forward 20 years.
A 3 year carryback is available for a NOL attributable to casualty losses or a presidential declared disaster.
A farming NOL can be carried back 5 years.
A 3 year carryback is available for a NOL attributable to casualty losses or a presidential declared disaster.
A farming NOL can be carried back 5 years.
