q 23 A net operating loss Must always be carried back 2 years Occurs when a company reports a net loss in their income statement May be carried back 2 years or carried forward up to 20 years Must always be carried forward 20 years

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q 23 A net operating loss: Must always be carried back 2 years Occurs when a company reports a net loss in their income statement

q 23

A net operating loss:

		Must always be carried back 2 years
		Occurs when a company reports a net loss in their income statement
		May be carried back 2 years or carried forward up to 20 years
		Must always be carried forward 20 years

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