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Can I use 2020 Form 1045 to carry back 2020 NOL to tax year 2016?

morena60
Level 1

Received IRS letter stating 2020 NOL must be carried back five years to the earliest available gain year.

That would be 2016.

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George4Tacks
Level 15

1 - 2019

2 - 2018

3 - 2017

4 - 2016

5 - 2015

IRS actually sent you (or client) a letter about NOL carryback? You use the work "gain" year. What do you mean by that?

If the NOL is generated in 2020, yes you would use the 2020 form 1045


ex-AllStar