In computing the taxable income (or loss)of an S corporation,an NOL carryover from a prior year is allowed.

Name: In computing the taxable income (or loss)of an S corporation,an NOL carryover from a prior year is allowed.
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An S corporation cannot carry over a net operating loss (NOL) from a prior year to offset its taxable income. Instead, NOLs are passed through to shareholders who may use them on their individual tax returns.

In Computing the Taxable Income (Or Loss)of an S Corporation,an