If a C corporation incurs a net operating loss in 2018 and carries the loss forward to 2019, the NOL carryover is not allowed to offset 100% of the corporation's taxable income (before the net operating loss deduction).

Question

Quizplus · Accepted Answer

Under the Tax Cuts and Jobs Act, for losses arising in tax years beginning after December 31, 2017, the NOL deduction is limited to 80% of taxable income before the NOL deduction.

If a C Corporation Incurs a Net Operating Loss in 2018