A business loss is not exactly welcomed but at least a net operating loss deduction may be available. Net operating losses can be carried back three years (unless the election is made to carry the NOL forward only) and forward 15 years.



To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.