An Election to Forgo an NOL Carryback Must Be Made

question 57

True/False

An election to forgo an NOL carryback must be made on or before the return due date (including extensions)for the year in which the NOL is incurred.

---

Definitions:

Data Analysis

The process of inspecting, cleaning, transforming, and modeling data with the objective of discovering useful information, informing conclusions, and supporting decision-making.

Organizing Results

refers to the process of systematically arranging data or findings in a study or experiment for analysis and presentation.

Independent Variable

In an experiment, the variable that is manipulated or changed by the researcher to observe its effect on the dependent variable.

Dependent Variable

The variable being tested and measured in an experiment, which is influenced by the independent variable.