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Introduction to Net Operating Losses - Overview of the Deduction & Basic Calculation

$45.00
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CPE: 2    CLE: N/A

Course Description: This course describes the basic tax principles for converting a net operating loss sustained by a taxpayer into a net operating loss deduction 

Course Level: Basic

Course Prerequisites: None

Delivery Method: Self-study

At the end of this course, you will be able to: 

  • Understand the need for the NOL deduction; Distinguish NOLs from the NOL deduction; 
  • Identify the basic types of taxpayers eligible for the NOL deduction; 
  • Identify the basic types of taxpayers not eligible for the NOL deduction; 
  • Understand the types of activities that give rise to the NOL deduction for individuals, estates, and trusts; 
  • Describe how NOLs apply to tax-exempt organizations; 
  • Articulate the NOL rules for nonlife insurance companies; 
  • Understand the basic approach to calculating an NOL; 
  • Identify the modifications applicable to corporate and noncorporate taxpayers in calculating the NOL; and 
  • Apply the basic modifications with regard to several common circumstances.

CPE

2

CLE

N/A