Help with this problem, I dont understand what he is asking.

VIII. (4 Points) in 2019, Bulldog has a taxable loss of $450,000: A only if 2019 is not the first year of operations. A. Can the loss be carried back or forward? dan Carly back 3 Carry forward 5 yrs B. Is there a limit of how much the NOL can offset taxable income? If so ? state the limit! nit = Capital Taxable losses an only offset Tatable gatas