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Bronson sustaibed a $43,390 NOL in 2018. His loss is reported on firm 1040, schedule c....

Bronson sustaibed a $43,390 NOL in 2018. His loss is reported on firm 1040, schedule c. The firts year to which Bronson carriez back his NOL is?
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Net operating loss(NOL) is basically a business loss that exceeds is total income, before January 1, 2018, there was a provision of carry back of NOL 2 years and carry forward upto 20 years. But the new amendment taken by TCJA, carry back provision of 2 years is eliminated and carry forward is allowed for unlimited years, also business can not set off loss 100% in any taxable year, only upto 80% can be set off, so by this Bronson is not allowed to carry back and he will carry forward it to 2019 taxable income if any.

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