TaxGuyBill
Level 15
09-25-2022
10:06 AM
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S-corporations don't have NOLs. They may have a loss, but that is different than a NOL.
The losses are passed on the shareholders (which in some cases could be suspended, such as lack of Basis). If the loss from the K-1 creates a NOL on the 1040, then the usual NOL rules apply.