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NOL carryback

earl_garrison
Level 3

I just amended a 2019 Form 1040 which created an NOL.  Can I still carry that NOL back to 2014 under the CARES Act?  The 2014 income tax return was extended until October 15, 2015.

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BobKamman
Level 15

The SOL for 2019 returns that were due 4/15/20 expires on 4/15/23. Same date applies to carrybacks from 2019.  

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sjrcpa
Level 15

Yes you can. The point of reference is the 2019 NOL not the 2014 carryback year.


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earl_garrison
Level 3

But don't I have to get this postmarked by October 15?  Two days?

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BobKamman
Level 15

The SOL for 2019 returns that were due 4/15/20 expires on 4/15/23. Same date applies to carrybacks from 2019.  

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earl_garrison
Level 3

But only 2 more days to get it postmarked?

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sjrcpa
Level 15

No. 3 years from the due date, or extended due date if applicable, of the 2019 return.


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earl_garrison
Level 3

Thanks so much for the response.  I appreciate it.