Which of the following statements related to loss carrybacks and carryforwards is correct?

		The benefit due to a loss carryback is reported only in the second year preceding the loss year.
		The benefit due to a loss carryback can be reported in both the loss year and future years.
		The benefit due to a loss carryforward is reported only in the loss year.
		The benefit due to a loss carryforward can be reported in both the loss year and future years.