It depends on when the NOL was generated. The use of an NOL generated after December 31, 2017 is limited to 80% of the current year's taxable income (without regard to the NOL deduction) when used. NOLs generated prior to January 1, 2018 continue to be used 100%, necessitating tracking of different NOL periods.
There is no carryback provision, but the carryforward period is no indefinite. However, the previous 2 year carryback and 20 year forward rules continue to apply to NOLs generated prior to January 1, 2018. The NOL is used to offset future income.
Net Operating Losses
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