- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
You can if your losses exceed your income. A net operating loss (NOL) is the amount by which a taxpayer's business losses exceed its income. The NOL deduction cannot exceed 80% of taxable income (determined without any NOL deduction) for losses arising in tax years beginning after 2017. There is no longer a carryback option.
Please see this IRS link: Net Operating Loss
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 10, 2020
11:57 AM