Course Description: This course is a follow-up to the introductory course on NOLs and covers calculating a net operating loss (NOL) and applying a NOL deduction. You will also learn how to ascertain if an NOL exists for different types of taxpayers, computing the amount of a loss that can be carried back or carried over to other periods, and determining the amount of the NOL deduction. 

Course Level: Intermediate

Course Prerequisites: Basic understanding of net operating loss (NOL)

Delivery Method: Self-study

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

• Identify whether an NOL exists; 
• Apply the modifications applicable to corporate and non-corporate taxpayers in calculating the NOL; 
• Understand and apply the basic modifications with regard to several common circumstances; 
• Understand the mechanics of NOL carrybacks and carryovers; and 
• Identify the modifications necessary to determine the amount of the deduction available to a carryback or carryover year.

CPE

2

CLE

N/A