Net operating losses for a C-corp prior 2016

I'm filing a 1020 form for a C-corp. The business had NOLs from tax year 2011-2015. However, the turbox software only asked for the amount from 2016-2020. How can I enter the amounts for tax years before 2016? Can these amounts be used in this year's taxes (2011-2015)?

139

Level 8

Mar 14, 2022 12:18:26 PM

The TCJA allows for Losses to be Carried Forward indefinitely. That was signed in 2017. Prior to that, you were allowed to carry forward losses up to 20 years. The 2016 1120, should have the total carry forward amount listed. I would use that as the NOL for 2016.

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Net operating losses for a C-corp prior 2016