Yes NOL (Net Operating Loss) is the more complex deduction I mentioned in prior post. I knew one Ponzi case that used NOL. As I understand it, it spreads loss out over 10? years (I think both forward and backwards (require amending?) This was desirable in case of retiree income levels where a single large deduction would be wasted against a single year. Therefore, need to create a "carrying" (eg carry forward) mechanism.
