Near Matches
Ignore Exact
Full Text
Net Operating Loss
created by
clearpebbles
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) by
clearpebbles
(7.3 y)
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Tue Jan 02 2001 at 8:41:34
For tax purposes:
If your
casualty
or
theft loss deduction
is more than your
income
; you may have a net operating loss(NOL). You can use a NOL to lower your
taxes
in an earlier year, allowing you to get a
refund
for taxes you have already paid. or, you can use it to lower your taxes in a later year. You do not have to be in
business
to have an NOL from a casualty or
theft loss
.
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chaos
operating profit
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