2018 Disaster Loss Taken in Previous Year

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Message Board 2018 Disaster Loss Taken in Previous Year

This topic contains 1 reply, has 2 voices, and was last updated by Lynn Freer 1 month, 1 week ago.

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  • #151280
    Anonymous

    When taking a disaster loss in a preceding year, which year’s loss limitation applies?  The year of the disaster 2018, or the year of the tax return, 2017?

  • #151281
    Lynn Freer
    Participant

    The year of the tax return so claiming it on the 2017 return will allow a federal NOL carryback but 2018 won’t