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In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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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 The TCJA act introduced the 80% limitation rule for NOL's. Did the cares act temporarily repealed this, but only for returns prior to 2021?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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