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NOL Carryback
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NOL Carryback
NOL Carryback
Submitted by Intuit Tax Advisor Team on 02-14-2023 07:28 PMA Net Operating Loss (NOL) Carryback allows businesses suffering losses in one year to deduct them from previous years' profits. This effectively averages the taxpayer’s income and losses over several periods and benefits the entity in the current period by generating positive cash flow.
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