eLearning

Net Operating Losses: Beyond the Basics

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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.

Educational Objectives:
• 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 
• Identify the modifications necessary to determine the amount of the deduction available to a carryback or carryover year