Jess has had a couple of good years in his new business and generated large amounts of taxable income. In 2019, however, he has a net operating loss of $8,000. He is uncertain about the future of the business and has a serious cash flow problem. As his tax accountant, how would you recommend Jess treat his net operating loss?

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The Answer of Jess has had a couple of good years in his new business and generated large amounts of taxable income. In 2019, however, he has a net operating loss of $8,000. He is uncertain about the future of the business and has a serious cash flow problem. As his tax accountant, how would you recommend Jess treat his net operating loss?

Jess Has Had a Couple of Good Years in His