CARES act NOL carryback/carryforward and the State...
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Level 2

CARES act NOL carryback/carryforward and the States

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

3 Replies
Level 6

CARES act NOL carryback/carryforward and the States

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

Level 2

CARES act NOL carryback/carryforward and the States

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

Level 6

CARES act NOL carryback/carryforward and the States

Yes if Idaho limits the carryback to 2 years

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