I read thru the instructions on 2017 & 2018 Net Operating losses (IRS Pub 536). It looks like I've missed the deadlines for both years. Based on what I've read I can only carry these losses forward. Which is unfortunate b/c I was in a much higher tax bracket for the years I would have been able to carry back.
I've contacted a CPA and I'm waiting to hear back. Maybe there are some work arounds or leniencies granted. Doubtful.
NOL Year | Carryback year | 1040-x deadline to carry back |
2017 | 2015 – p536 says only back 2 years | 4/15/2021 |
2018 | 2013 – CARES Act allows 5 year carry back | 4/15/2022 |
