Similar question except that my NOL is arising from a 2016 amended tax return. An election was not made to forego the carryback on the return as originally filed as there was no NOL when 2016 was originally filed and, thus, no need for an election. Tax years 2014 and 2015 are now closed. Am I still required to carry the NOL back to 2014 and then 2015 since it is too late to forego the carryback on the 2016 amended return? If so, this carryback would generate a refund for 2014. Would a refund be issued for a closed year? Or...is there a way to just carry the NOL forward to 2017 without dealing with 2014 and 2015 since we couldn't possibly have elected to forego the carryback in a timely manner since there was no NOL when filed? Thanks in advance for any assistance you can provide.
