I have a s-corp (100% owned//sole shareholder) that works in the construction/trade industry. In 2018 there is a NOL of approximately $7,000. Of course since I'm the sole owner, my K1 shows the full NOL. Also, I stopped the business (ceased operations) in 2018 (but have yet to file the dissolution). Can I use the NOL as a carryback still under the new tax rules? I'm aware that I will not be able to carry forward as the business is no longer in business. Can somebody shed some light on my question?
