Part III. Administrative, Procedural, and Miscellaneous

(1999) provides that any carryforward of a limitation amount may be carried forward only to the first 2 years (3 years for carryforwards from 1998 or 1999) following the unused limitation year. For this purpose, a limitation amount shall be treated as used on a first-in first-out basis.

.04 Rev. Proc. 98–9, 1998–1 C.B. 341, Rev. Proc. 98–57, 1998–2 C.B. 682, Rev. Proc. 2000–10, 2000–1 C.B. 287, Rev. Proc. 2001–14, 2001–1 C.B. 343, and Rev. Proc. 2002–25, 2002–17 I.R.B. 800, allocated among the States the national limitation for 1998, 1999, 2000, 2001, and 2002, respectively.