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J
jjetson
April 11, 2025
Question

Am I required to include/use past years' NOL from my very small business? Or can I just use this year's much smaller NOL & carry that forward?

  • April 11, 2025
  • 1 reply
  • 0 views
I'm asking because the past carryovers are so much greater now than I'll probably ever have as profit.

    1 reply

    A
    AmeliesUncle
    April 12, 2025

    Is this on a 1040 (such as Schedule C)?

    If so, is there any other income on the 1040?

    Are you SURE this is a business?  Many years of having a loss MIGHT put the determination of a "business" in doubt.

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