R4 - NOL and Capital Loss Limitations

Question 1

NOLs: Limited to 80% of taxable inc after 2018

Answer 1

• 2017 and B4: 2 carryback 20 yr CF

- Post-2018: Wakanda Forever

Question 2

NOLs notations

Answer 2

• No charity in NOL Calc
• CY Cap Loss C/O from CY Cap Gain can be used in NOL Calc, but can’t use Cap Loss CarryBACK against Net Cap Gain in CY NOL Calc

Question 3

Corp Net Cap Loss

Answer 3

Carryback: 3 yrs as ST
Carryfwd: 5 yrs as ST