partnership and S corporation returns can: a: carry their NOLs back ten years b: not carry...

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partnership and S corporation returns can: a: carry their NOLs back ten years b: not carry...

partnership and S corporation returns can:

a: carry their NOLs back ten years

b: not carry NOLs back or forward

c: have a choice of carrying their NOLs forward two, ten, or twentty years

d: carry forward their NOLs fifteen years

business accounting

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Answer 1

Answer #1

Ans is

b: not carry NOLs back or forward

Reason

Partnerships and S corporations generally cannot use an NOL

However, partners or shareholders can their share of Net Operating Loss in their individual return.

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Answer 2

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partnership and s corporation return can: carry their nols back ten years

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partnership and S corporation returns can: a: carry their NOLs back ten years b: not carry...

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