This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

- Post-2017 corporate NOLs are carried forward indefinitely but generally cannot be carried back.

- The NOL deduction is limited to 80% of taxable income, calculated before the NOL deduction itself.

- Pre-2018 NOLs are used first and are not subject to the 80% taxable income limitation.

- Exam questions often create scenarios with both pre-2018 and post-2017 NOLs to test ordering rules.

- Exceptions to the no-carryback rule exist for specific entities like certain farms and non-life insurance companies.

For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep