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Coronovirus Aid, Relief, and Economic Security Act (CARE) and Tax Loss Carrybacks
The Coronovirus Aid, Relief, and Economic Security Act (CARE) which just passe the Senate and is on the way to the House allows for taxpayers to carryback their 2018-2020 losses without limitation instead of having to carry them forward subject to limitation. Will Turbotax be updated to accommodate this or will one need to file a 1045 manually from the IRS once they update it?
March 26, 2020
2:42 PM