1120-US: Calculating the carryback period of a current-year NOL (FAQ)

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Question

How do I calculate a five-year carryback of net operating loss?

Answer

To calculate a five-year carryback of a net operating loss, you must have two units of Screen 1139. On the first unit, enter information for the 3rd, 2nd, and 1st preceding tax years. Use the second unit of Screen 1139 to enter the 5th and 4th preceding year information. On Form 1139, use columns (c) and (d) for the 5th preceding year and form columns (e) and (f) for the 4th preceding year.

Related topic: 1120-US: Form 1139 - Application for refund FAQs

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