Problem $4-16$

Net Operating Losses $($LO $4\mathrm{.}9)$

Tyler, a single taxpayer, generates business income of $$3,000$ in $2020.$ In $2021,$ he generates an NOL of $$5,000.$ In $2022,$ he generates business

income of $$1,000.$ In $2023,$ his business generates income of $$1,100.$ What is Tyler's NOL carryforward into $2024,$ if any?

His $2021$ NOL cannot be

$$ and can only be

$.$ He can offset $

X of his $2022$ income

leaving a

$x$ NOL to

$$ into $2023.$ He can offset $

$x$ of his $2023$ income leaving an NOL

carryforward $$ of $

X into $2024.$