APPENDIX 2: LOSS CARRYOVER PERIOD
Business Losses |
||
Tax Year Loss Occurred | Carryback | Carryforward |
Before 2003 | 3 years | 7 years |
After March 22, 2004 | 3 years | 10 years |
After 2005 | 3 years | 20 years |
Farm Losses |
||
Tax Year Loss Occurred | Carryback | Carryforward |
Before 2006 | 3 years | 10 years |
After 2005 | 3 years | 20 years |