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  • 1.  NYC S Corp carryback

    Platinum Most Valuable Member
    Posted 08-03-2020 04:12 PM
    I have a S Corporation client that had profits in 2013($190), in 2014 ($5518), in 2015 ($172) in 2016 (3437) and in 2018 ($7967 before carry forward of 2017 NOL).  The corporation had a $1438 loss in 2017 and a $15,699 loss in 2019.  I carried forward the loss against the 2018 profit.

    May I carry back the 2019 loss against the net 2018 profit?

    Thank you for your feedback.  Stay safe and healthy (because of the pandemic as well as the impending storm!

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    David Rothfeld
    DAVID J. ROTHFELD, CPA
    Hicksville NY
    516-433-2129
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