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New Member
posted Jun 6, 2019 2:17:14 AM

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?

0 2 393
2 Replies
Not applicable
Jun 6, 2019 2:17:15 AM

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

Level 15
Jun 6, 2019 2:17:18 AM

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