Individual Nol Carryback 2025 Carryback. If an election to forego any nol carryback is made, the nol must be carried forward. For example, if a corporation is a deferred foreign.

However, if a refund is attributable to an nol carryback, a claim for refund can be filed within 3 years of the due date (including extensions) of the nol source year return. For example, if a corporation is a deferred foreign.