@KurtL1 wrote:
NOL amounts that are carried over to the next year are calculated in each year based on the information in that year.
Except for NOLs arising in tax years 2017 or earlier, you need to waive the carryback period before you can carry the NOL over to the next tax year.
If you do not waive the carryback period for NOLs arising in tax years 2017 and earlier with your timely filed return, your only option is to carry the NOL back two tax years before carrying it forward.
