2018 Tax Act: Business Taxes- Net Operating Carry back
The net operating loss deduction rule has been amended. Under the new law, the limitation -- the net operating loss (NOL) carryover deduction is limited to 80% of taxable income and provides that amounts carried to other years be adjusted to account for the limitation for losses arising in taxable years beginning after December 31, 2017.
The general rule of carrybacks has been repealed. Therefore, losses may only be carried forward.
The carryovers are allowed indefinitely.