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NOL carryover and S-corp election
if I have a business NOL for 2020 is it possible for me to carryover that 2020 NOL to 2021 and then use the NOL to reduce my personal income tax liability if I file a form 2523 with the IRS to treat my C-corp as an S-corp? Or is this not allowed at all?
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‎July 24, 2020
12:28 PM