MIS UU12: 10 pes possible deduction, and why is it lowed? A An NOL deduction is a deduction taken against the income of a year in which the NOL is incurred An NOL anses when the taxpayer's personal dations exceed the taxpayer's salary and other personal income The statute wows the deduction in an attempt to compensate for the federal income tax burden imposed on a payers with personal expenses that exceed personal income An NOL deduction adedaction a g ainst the income of a year in which the NOL incurred An NOL anses when a payer personal for that songina cost The state allows the deduction in an attempt to compensate for the federal income tax burden imposed on topayers when the set was originally purchased OC. An NOL deduction is a deduction taken against the income of a year following the year in which the NOL curred An NOL is when the payer's personal deductions exceed the payer's my and other personal income The Seduction can be carried forward indently but the deduction is limited to be income before the NOL deduction. The statute allows the deduction in an attempt to the federal income tax burden imposed on l ayer with personal expenses exced personal income OD. ANNOL deduction is a deduction payers take against the income of a year following the year in which they now the NOL The NCL arises when the payer's business deductions and personal casual los deductions exceed the wayor's business and other income The deduction can be came forward indefinitely but the deduction is mited to 30% of taxable income before the NOL deduction The statute the deduction in an attempt to que te deincome tax burden imposed on a payer business income that actuates from year to year with the tax burden imposed on payer with business income that is relatively stable from year to your see