NOL and capital loss carryovers are deductible in calculating the charitable contribution limit modified taxable income,while NOL and capital loss carrybacks are not.

Question

Quizplus · Accepted Answer

NOL (Net Operating Loss) and capital loss carryovers are deductible in calculating the charitable contribution limit modified taxable income, while NOL and capital loss carrybacks are not deductible for this purpose.

NOL and Capital Loss Carryovers Are Deductible in Calculating the Charitable