The CARES Act changes the provisions for certain net operating losses (NOLs). For NOLs generated in 2019, which of the following is TRUE? All NOLs may be carried back two years. Non-farm NOLs cannot be carried back, but may be carried forward indefinitely. The taxable income limitation is suspended for NOLs generated in 2019. If a taxpayer has already filed their 2019 return and chooses to waive any allowable carryback period for their 2019 NOL, they should amend the return to make the election