Large '17 NOL carried back to wipes out taxable SS benefits on '15 and takes taxable income below zero. (Individual)
Large NOL remaining to carry to '16. Seems odd, but after applying the carryback, the tax program (L) presents a small amount of additional NOL created for 2015. It is labeled the 2015 "current year NOL".
If correct, what would one do with this "additional" NOL? Would it be added to the amount carried forward to '16 or does it perpetuate itself to a potential never ending cycle of carrybacks (from '15 to '13, then if add'l created in '13 to '11 and on & on)? Thanks.