Local enterprises Inc. had pretax income of $50$ million this year last year was a bad year for local with an operating loss of $44$ million local will use as much of this loss as allowed to offset this year's pretax income and carry forward any remaining amount calculate the amount of the prior years operating loss local will carry forward to next year recall that due to the tax cuts and jobs act prior years cumulative operating losses may be used to offset up to $80\%$ of the current years taxable income with any unused operating losses carried forward