2. While a C corporation\'s losses cannot be used by their shareholders to offse

Question

2. While a C corporation's losses cannot be used by their shareholders to offset personal income, a C corporation may carry back and carry forward losses to help offset the taxable income a corporation had or will have. How are these net operating losses carried back and carried forward?

A. Carried back two years, carried forward indefinitely

B. Carried back indefinitely, carried forward two years

C. Carried back two years, carried forward five years

D. Carried back two years, carried forward twenty years

E. None of these.

Explanation / Answer

Answer: C. Carried back two years, carried forward five years

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