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Which of the following statements is true for a C corporation incurring a net operating loss...

Which of the following statements is true for a C corporation incurring a net operating loss (NOL) for a tax year that begins in 2019?

  • It may carry the NOL back two years and forward 20 years.

  • It may not carry the NOL back to prior years but it may carry it forward 20 years.

  • It may not carry the NOL back to prior years but it can carry the loss forward indefinitely.

  • It may carry the loss back two years and carry the loss forward indefinitely.

  • None of the choices are correct.

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