A net operating loss occurring in 2018 can only be carried forward and can offset no more than 80% of taxable income in a subsequent year.

Name: A net operating loss occurring in 2018 can only be carried forward and can offset no more than 80% of taxable income in a subsequent year.
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Question

Quizplus · Accepted Answer

The Tax Cuts and Jobs Act of 2017 changed the rules for net operating losses (NOLs) incurred after December 31, 2017, allowing them to be carried forward indefinitely but limiting the offset to 80% of taxable income.

A Net Operating Loss Occurring in 2018 Can Only Be