ajustment is needed edits must be recomputed. e of the above. for follow up on 67 of 75. the blank. For 2018, the IRS will process Form 1045 within ng the 2018 income tax return. days from the later of the date the complete application is filed or the last day of the month th 20 dark for follow up estion 68 of 75. hich of the following is a correct statement in regard to an NOLT The NOL deduction is limited to 80% of taxable income (determined without regard to the deduction) in losses that arise in tax years beginning after December 31, 2017 Beginning in tax years after December 31, 2017, taxpayers may take 100% of an NOL in the year following the loss Taxpayers will need to make a distinction between NOLs that occurred before January 1, 2018, and after December 31, 2017, when computing the NOL deduction The taxpayer is allowed to carry backward or forward an NOL deduction if the loss occurred in 2018 Mark for follow up Question 69 of 75. When should the alternative minimum tax NOL be computed? Anytime there is an NOL and the taxpayer's AGI is greater than $150,000 Anytime a casualty or theft loss has occurred which can be carried forward three or more years. Anytime a taxpayer has any minimum tax adjustments or preference items in the loss year or in any year to which the loss is carried Whenever the taxpayer's AG is greater than $150,000 e me ajustment is needed edits must be recomputed. e of the above. for follow up on 67 of 75. the blank. For 2018, the IRS will process Form 1045 within ng the 2018 income tax return. days from the later of the date the complete application is filed or the last day of the month th 20 dark for follow up estion 68 of 75. hich of the following is a correct statement in regard to an NOLT The NOL deduction is limited to 80% of taxable income (determined without regard to the deduction) in losses that arise in tax years beginning after December 31, 2017 Beginning in tax years after December 31, 2017, taxpayers may take 100% of an NOL in the year following the loss Taxpayers will need to make a distinction between NOLs that occurred before January 1, 2018, and after December 31, 2017, when computing the NOL deduction The taxpayer is allowed to carry backward or forward an NOL deduction if the loss occurred in 2018 Mark for follow up Question 69 of 75. When should the alternative minimum tax NOL be computed? Anytime there is an NOL and the taxpayer's AGI is greater than $150,000 Anytime a casualty or theft loss has occurred which can be carried forward three or more years. Anytime a taxpayer has any minimum tax adjustments or preference items in the loss year or in any year to which the loss is carried Whenever the taxpayer's AG is greater than $150,000 e me