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 Changes to the Net Operating Loss Carryover and Loosening of 2020

3805q 2020-2025 Form

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hey this is CPA Ted lands arrow today I want to talk to you about the new net operating loss carry-back option that is part of the new cares Act that came about from the corona virus pandemic now what this allows you to do is to carry back losses that occur because of bonus depreciation if you're born is depreciation exceeds your taxable income for 2019 or 2020 so let's say for example that you had $500,000 worth of income and I'm going to show screen with you right now take a look at this let's say for example you had $500,000 of taxable income in 2019 prior to any bonus depreciation and now you you've bought a property or you've invested in a couple of syndications you've got a million dollars of bonus depreciation coming to you now I still have to be a real estate professional to be able to take this bonus depreciation deduction let's assume I am now I've got a net operating loss of $500,000 so I'm not g

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