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Saturday, April 04, 2015 7:16:02 AM
You can use your NOLS with no limits every year. For examples, sometime I used it to against my entire year of revenue. For some special case, I used it against my roll over from traditional IRA to Roth IRA. That amount is huge, and no limits.
How many years to carry? The law has changed many times. In the beginning, it was 15 years, then 25 years, then for your whole life since 2009(?). I don't remember exactly the year but was informed by my accountant that's for lifetime.
Be careful, once you moved to another state, you will lose all the benefit to against state tax as I did in 2007.
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