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Business & farm
Thanks for the reply — So I guess what you said would make sense — that if the current year loss has already offset/deducted (to the max) the current year's income, the previous year's carryover can't be used. But in this case, it doesn't even seem like the current year's NOL has been used — because of the message I'm getting that says, "Your net operating loss deduction allowed this tax year is zero." That indicates it hasn't even deducted anything using this year. But my business's spending this year is much higher than my business's income, this year so I don't even understand how this year's NOL deduction could be zero.
February 5, 2024
10:53 AM