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Loss Carryback


I have an individual loss carry back from 2018 back to a 2015 under the new law. 2015 has sizable tax interest and penalty due. Will the interest and penalty also be reduced besides the tax from the carryback? Thanks for any response. 

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Level 14

No. Only the tax gets recalculated.

Or - are you saying 2015 has not been filed yet? In that case, interest and penalty will be calculated on tax due after the carryback.