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"Federal adjusted gross income shall not be reduced by the amount of a net operating loss carryback or carryforward."

My question is, does this sentence refer to these three things:

1) net operating loss

2) net operating loss carryback

3) net operating loss carryforward

Or these two things:

1) net operating loss carryback

2) net operating loss carryforward

Last edited by misterk
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Hello, Misterk,

@misterk posted:

"Federal adjusted gross income shall not be reduced by the amount of a net operating loss carryback or carryforward."

My question is, does this sentence refer to these three things:

1) net operating loss

2) net operating loss carryback

3) net operating loss net carryforward

Or these two things:

1) net operating loss carryback

2) net operating loss net carryforward

I don't understand why you repeat "net."

The sentence above means that the gross income is not to be reduced or adjusted by either the amount of a net operating loss carryback or the amount of a net operating loss carryforward.

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