David Zimmerman Comments on JCT's Blue Book Interpretation of NOL Calculations in Tax Notes

"New Explanation on Computing NOLs for Carryovers Finally Adds Up"

Tax Notes


David Zimmerman commented on the Joint Committee on Taxation's (JCT's) blue book explanation for how net operating losses (NOLs) are calculated. "There may be a reasonable basis" for determining taxable income without regard to all NOLs, Zimmerman said, adding that the blue book's interpretation of determining without regard to post-2017 deductions "is the better view."