Books and Toys Corporation, a calendar year corporation, had a net operating loss of $50,000 for 2011. Books and Toys Corporation made a proper election to forego the carryback period. For 2012, Books and Toys Corporation correctly deducted $40,000 of the 2011 loss. Books and Toys Corporation will lose the remaining $10,000 of the loss if the loss cannot be deducted by the end of which tax year?