asked 192k views
4 votes
For 2017, a taxpayer has a net operating loss of $65,000. What is the maximum range of years through which the NOL can be carried over?

a. 2016-2037
b. 2015-2037
c. 2016-2035
d. 2015-2036
e. 2016-2036

1 Answer

2 votes

Final answer:

The maximum range of years for carrying over a net operating loss (NOL) in 2017 is 2016-2036.

Step-by-step explanation:

The maximum range of years through which a net operating loss (NOL) can be carried over for a taxpayer in 2017 is 2016-2036.

An NOL occurs when a taxpayer's deductible expenses exceed their taxable income. This loss can be carried forward and applied to offset future taxable income, reducing the taxpayer's tax liability in those years.

In this case, the taxpayer can carry over the NOL from 2017 through the year 2036, reducing their taxable income and potentially lowering their tax liability for up to 20 years.

answered
User SpechtacularDave
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