What items must be adjusted when calculating a corporate NOL?
No charitable contribution deduction is NOT allowed to create a NOL
The TI limitation normally imposed on the dividends-received deduction does not apply if taking the full deduction results in a NOL
The domestic production activities deduction is NOT allowed to create a NOL
The NOL carryback –forward cannot create a NOL for the current year
A corp may deduct a capital loss carryover from a current year capital gain in calculating an NOL, yet it cannot deduct a capital loss carryback against a net capital gain in determining a current year NOL.
What is the carryback / forward for a capital loss?
Back: 3 yrs
Forward: 5 yrs
What is the individual net capital loss amount, carryback and carryforward?