199A deduction for qualified business income, the new qualified
199A and the regs, in order from the oldest to the most recent on a first-in first-out ... Excess business losses are not allowed for the tax year but are instead
80 percent of taxable income without regard to the new section 199A deduction.
These losses are used, for purposes of section 199A, in order from the
172 or 199A) over (2) the sum of the taxpayer's aggregate trade or business
Five-year carryback of NOLs generally permitted for 2018, 2019, and 2020 .
no DNI for the tax year, section 199A items
that disallows “excess business losses”3 for tax years beginning after
The act restores the five-year net operating loss (NOL) carryback for losses arising
The CARES Act repeals the 80% income limitation for NOL carryovers