which of the following statements correctly describes the carryback or carryover period for net capital losses?

1 the excess loss is then carried forward indefinitely for corporations and back three years and forward five years for noncorporations.

2. the excess loss is then carried forward indefinitely for noncorporations and back three years and forward five years for corporations.

3. there is no carryback period. Taxpayer may only carry forward for 5 years

4. the excess loss is then carried forward indefinitely for both corporations and noncorporations.