If an NOL Is Incurred,when Would a Taxpayer Elect to Forgo

question 26

Essay

If an NOL is incurred,when would a taxpayer elect to forgo the carryback period and only carry the loss deduction forward?

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Definitions:

Bleeding Time

The duration taken for bleeding to stop, which is a basic test to assess platelet function or clotting ability.

Prothrombin Time

A blood test that measures how long it takes blood to clot.

Lymphedema

A condition characterized by swelling usually in the arms or legs, due to a blockage in the lymphatic system preventing lymph fluid from draining well.

Lymphangitis

An inflammation of the lymphatic channels that occurs as a result of infection, often resulting in red, painful streaks under the skin.