Net Operating Loss Question 41 of 50. The NOL year is: 0 The year in which the NOL is used up. O The year TO which the NOL is carried O The year in which the NOL occurred O The first carryback year. Mark for follow up Question 42 of 50. Which taxpayer is NOT able to deduct NOLs incurred by an entity? 0 A shareholder in a C corporation. O A partner in a partnership () A member in an LLC. O A sole proprietor. Mark for follow up Question 43 of 50. Partnership and S corporation returns can: O Carry their NOLs back ten years. O Not carry NOLs back or forward Have a choice of carrying their NOLs lonward two, ten, or twenty years. O Carry forward their NOLS 15 years. Mark for follow up Question 44 of 50