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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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NOL Losses
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jlew1229
Level 3
03-18-2024
03:36 PM
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I have a C -Corp client that has various NOL's dating back to 2008. I keep finding conflicting information on line.
I think this is correct.... The TCJA act introduced the 80% limitation rule for NOL's. Did the cares act temporarily repealed this, but only for returns prior to 2021?
So if I have a fiscal year C-Corp return ( July 22 - June 23 ) The 80% NOL rule still applies ?
Thanks for any help you can give.
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