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Yes. A net operating loss (NOL) occurs when the trust's deductions are more than its income for the year. Generally, the entire amount of the NOL is carried back to the two tax years prior to the NOL year (carryback period), which is the year in which the NOL occurred. Any remaining NOL then is carried forward for up to 20 years after the NOL year (the carryforward period).

For more information, go online at Click on Publication Number to request Publication 536-Net Operating Losses (NOLs) for Individuals, Estates, and Trusts.

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Q: Can a trust carry back a stock loss?
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