topic How many years will my NOL's last assume: 2018 tx year I file single, have 153K in NOL's carried forward, 14.4K in SS income and 20,600K pension income, no other income? in Get your taxes done using TurboTax

How many years will my NOL's last assume: 2018 tx year I file single, have 153K in NOL's carried forward, 14.4K in SS income and 20,600K pension income, no other income?

pacoleus — Thu, 06 Jun 2019 09:17:14 GMT

in truth no one can say. there can always be changes in...

Anonymous — Thu, 06 Jun 2019 09:17:15 GMT

in truth no one can say. there can always be changes in the tax laws which could affect NOL used and carryforward period.

Not knowing your exact age I would safely say for the res...

Critter — Thu, 06 Jun 2019 09:17:18 GMT

Not knowing your exact age I would safely say for the rest of your life.

Under the new law, an NOL can offset only 80% of taxable income in any given tax year. Furthermore, NOLs can no longer be carried back, they must be carried forward. The 20-year carryforward period has been replaced with an indefinite carryforward period