Net Opeating Loss Carryforward

Joe163 · ‎March 5, 2019

MY son had a NOL larger than his income in 2017 due to Hurricane Irma in Key West. He elected to forego the carryback intending to carryforward to 2018, however new tax law does not permit carryforward. What can be done?

MaryK1 · ‎March 6, 2019

The new tax law provides that there is no carryback for an NOL incurred after 2017, but the loss may be carried forward indefinitely. He will be able to use it on the 2018 return.

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Joe163 · ‎March 7, 2019

How is it claimed using turbo tax in 2018?

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Net Opeating Loss Carryforward