Tax Forms

Net Operating Loss

In 2021 I filed my taxes for the year of 2020 and had a business loss of 20,000, it's recorded on line 31 of my schedule C for that year In 2021 I didn't make any money Now i'm filing my taxes for 2022, and I made some money, can I bring that negative 20,000 as a NOL to reduce my schedule C profit?

Share This Answer

Looking For More?

View all Tax Forms Questions

View More Questions