Accounting & the 3 Statements
Under current US federal rules (post-TCJA), what are the key limits on using NOL carryforwards, and how does that differ from the old regime?
Model answer
For NOLs generated in tax years beginning after 12/31/2017, there is generally NO expiration — they carry forward indefinitely — but their USE in any year is capped at 80% of that year's taxable…
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