The Tax Cuts and Jobs Act is the biggest federal tax law change in over 30 years. Below are significant changes affecting excess business losses and net operating losses (NOLs) for noncorporate taxpayers. Note: Except where noted, the changes are effective for tax years 2018–2025. Excess Business Loss Limitation Your overall business losses may be limited as you cannot deduct an excess business loss in the current year. An excess business loss is the amount by which your total deductions from … [Read more...] about Tax Cuts and Jobs Act Excess Business Loss and Net Operating Loss (NOL)