When expenses outweigh reported income for that year.
Related information about net operating loss:
- Net Operating Loss (NOL) Definition | Investopedia
A period in which a company's allowable tax deductions are greater than its taxable income, resulting in a negative taxable income. This generally occurs when ...
- Net operating loss - Wikipedia, the free encyclopedia
Under U.S. Federal income tax law, a net operating loss (NOL) occurs when certain tax-deductible expenses exceed taxable revenues for a taxable year.
- Publication 536 (2011), Net Operating Losses (NOLs) for Individuals ...
Generally, if you have an NOL for a tax year ending in 2011, you must carry back the entire amount of the NOL to the 2 tax years before the NOL year (the ...
- 2011 Publication 536 - Internal Revenue Service
Mar 5, 2012 ... Net operating loss deduction. check the information available on IRS.gov or trade or business or your employment. For ex- call 1-800-829-1040 ...
- Business Losses Can Generate Net Operating Loss Deduction ...
May 24, 2012 ... gross income, net earnings, net operating loss, NOL, carryback, carryforward, carryover.
- 26 USC § 172 - Net operating loss deduction | LII / Legal Information ...
(2) the net operating loss carrybacks to such year. For purposes of this subtitle, the term “net operating loss deduction” means the deduction allowed by this ...
- Net Operating Loss Carryback & Carryforward Rules | Lawyers.com
The IRS allows you to use your losses against your income in future or past years for federal tax purposes.
- How to File for Net Operating Losses | Fox Small Business Center
Apr 13, 2012 ... You may also be able to take a Net Operating Loss (NOL), which can be carried back to secure refunds from tax returns filed in previous years.