SUPPLEMENT TO ACCOMPANY - 2021 Editions

A married couple has taxable income in 2021 of $100,000 before considering a QBI deduction of $15,000. They also have a pre-2018 NOL of $150,000. With the reinstatement of the 80% of taxable income limitation in 2021, the NOL would be limited to $80,000 (80% x … ................
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