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kasrosinned
New Member

I have a net operating loss due to theft why must I carry it forward or back? Why doesn't it count on this years tax return?

 
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Anonymous
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I have a net operating loss due to theft why must I carry it forward or back? Why doesn't it count on this years tax return?

 if you don't have have  NOL carryforward the change in the tax  laws for 2018 only allows a NOL up to 80% of taxable income in the year it occurred.  carryback is no longer allowed 

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1 Reply
Anonymous
Not applicable

I have a net operating loss due to theft why must I carry it forward or back? Why doesn't it count on this years tax return?

 if you don't have have  NOL carryforward the change in the tax  laws for 2018 only allows a NOL up to 80% of taxable income in the year it occurred.  carryback is no longer allowed 

View solution in original post

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