Corporate Nol Carryover Rules 2025. An nol from a taxable year beginning in 2018, 2019, and 2020 can generally be carried back 5 years, and carried forward indefinitely; When figuring the current year's net capital loss, you cannot combine it.
To correctly calculate valuation allowances and carry nols to other years, companies must separately track nols each year a net operating loss. Any excess business loss that was disallowed would be carried forward as a net operating loss (nol).