What are the current NOL carryforward rules?

Under TCJA, NOLs arising after 2017 carry forward indefinitely but can only offset 80% of taxable income in any carryforward year. No carryback except for farming losses.

How do I calculate an NOL?

NOL = negative taxable income after certain modifications. Exclude personal exemptions, net capital losses, and some deductions. Use Schedule A of Form 1045 to determine the correct NOL amount.

What is the excess business loss limitation?

Non-corporate taxpayers cannot use business losses exceeding $305,000 (single) / $610,000 (MFJ) in 2024 to offset non-business income. Excess business losses become NOL carryforwards.

Are CARES Act COVID NOLs still available?

The CARES Act temporarily allowed 5-year NOL carrybacks for 2018-2020 NOLs. Most carryback opportunities have passed, but resulting refunds are still claimable via Form 1045 or amended return.

How does 80% NOL limitation work in practice?

Example: $500,000 NOL carried forward to year with $200,000 taxable income. Can use 80% times $200,000 = $160,000. Remaining $40,000 income is taxed. NOL balance reduced by $160,000 to $340,000.

US Net Operating Loss (NOL) Carryforward Calculator

Calculate NOL carryforward under TCJA rules: indefinite carryforward (no carryback except farming NOLs), limited to 80% of taxable income. Pre-2018 NOLs carry forward 20 years with 100% offset.

Use the full interactive calculator below, or

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Frequently Asked Questions

What are the current NOL carryforward rules?

How do I calculate an NOL?

What is the excess business loss limitation?

Are CARES Act COVID NOLs still available?

How does 80% NOL limitation work in practice?