As part of the 2020 CARES Act, corporations can now carry back net operating losses how many years? 2 3 4 5 For 2020, SAS Corporation has a net capital loss of $39,000 from the sale of investment securities. In 2018, its first year of business, SAS had a net capital gain of $11,000. In 2019, SAS had a net capital gain of $3,000. What is the tax treatment of the $39,000 net capital loss in 2019? Carry back to 2018 against the capital gain of $11,000. Carry forward the $28,000 balance indefinitely. Carry back to 2018 against the capital gain of $11,000. Carry forward the $28,000 balance for five years. Carry forward the balance indefinitely. Carry forward the balance five years, subject to a taxable income limitation