Can you carry forward or backward net operating losses? How far?
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Personal Holding Corp/NOL/carry forward-carry back?
Jun 08, 2006
2 Replies
For a PHC, IRC section 545(b) allows a one-year carryforward of an NOL in the computation of the corporation's undistributed personal holding company income. I *think* that the regular NOL carry-around rules apply in the computation of the corporation's regular taxable income.
For a PHC, IRC section 545(b) allows a one-year carryforward of an NOL in the computation of the corporation's undistributed personal holding company income. I *think* that the regular NOL carry-around rules apply in the computation of the corporation's regular taxable income.
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