CARES act NOL carryback/carryforward and the States

qofmiwok · ‎December 13, 2020

I have a 2020 $25k NOL which per the CARES act I can carry back to 2015 or carry forward. My state of Idaho only allows a 2 year carryback period. Does this mean I would file an amended 2018 for Idaho to use the NOL? Or do I have to carry forward in order to apply to state taxes?

Thanks

M-MTax · ‎December 13, 2020

If you want to get a refund from Idaho you have to file an amended Idaho return.

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qofmiwok · ‎December 13, 2020

So I would carry the Idaho back 2 years and the Fed back 5 years?

M-MTax · ‎December 13, 2020

Yes if Idaho limits the carryback to 2 years

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CARES act NOL carryback/carryforward and the States

State tax filing

State tax filing

State tax filing