I have a net operating loss due to theft why must I carry it forward or back? Why doesn't it count on this years tax return?

kasrosinned · ‎June 3, 2019

Anonymous · ‎June 3, 2019

if you don't have have NOL carryforward the change in the tax laws for 2018 only allows a NOL up to 80% of taxable income in the year it occurred. carryback is no longer allowed

View solution in original post

I have a net operating loss due to theft why must I carry it forward or back? Why doesn't it count on this years tax return?

Deductions & credits