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Discussion:NOL - New Rules from AARA 09

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Discussion Forum Index --> Basic Tax Questions --> NOL - New Rules from AARA 09


Discussion Forum Index --> Tax Questions --> NOL - New Rules from AARA 09

Beangrinder (talk|edits) said:

13 July 2009
Hi All,

I want to double check my understanding of the new NOL carryback rules coming out of the American Recovery and Reinvestment Act of 09. Generally, NOL goes back 2 and forward 20. With the new rules, an eligible small business can now go back 3, 4 or 5 years. An eligible small business is a corp or partnership with less than 15 mil in gross receipts, Section 172(F)(iii).

This includes the Schedule C folks but does not include the Schedule E Rental folks?

Thanks

Riley2 (talk|edits) said:

14 July 2009
I see no reason that a rental loss would not be an ESB loss.

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