To add to the previous post, the use of an NOL generated after December 31, 2017 is limited to 80 percent of the current year's taxable income. NOLs generated prior to January 1, 2018 continue to be used 100 percent, necessitating tracking of different NOL periods. The previous 2 year carryback and 20 year forward rules continue to apply to NOLs generated prior to January 1, 2018.
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