Problem 3-25 Net Operating Losses (LO 3.12) Carl has had a couple of profitable years in his new business. However, in the current year he has a net operating loss of $80,000. He does not feel that the future of his business is very bright and as such does not believe he will generate much taxable income in the future. As his tax accountant, how would you recommend Carl treat his net operating loss? Under the general rule, a net operating loss is carried back years and forward years. Since he is uncertain about future income,