Tax Deduction for a Net Operating Loss (NOL)

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    Figuring out how much you can deduct for an NOL is complicated but your potential tax savings makes it worth your time to learn how it works.

    There are times when you lose money. Businesses big and small, and sometimes individuals, may have more costs and expenses than they have in income or profits. This may result a net operating loss (NOL for short). Losing money is never fun. But there is at least one silver lining in this dark cloud: You can deduct your NOL from your current and future taxes. This will help you recover someā€”but usually not all–of your loss.

    Figuring out how much you can deduct is complicated. Moreover, the Tax Cuts and Jobs Act (TCJA), the massive tax reform law that took effect in 2018, made big changes in how NOLs are deducted. Your potential tax savings, however, makes it worth your time to learn how NOLs work.

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