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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15309
Experience:  15years with H & R Block. Divisional leader, Instructor
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I have a net operating loss I have been carrying forward.

Customer Question

I have a net operating loss I have been carrying forward. This past year I was paid by 1099. Do I still owe employment tax or will the NOL wipe it out?
Submitted: 1 year ago.
Category: Tax
Expert:  Robin D. replied 1 year ago.

Hello

NOL carryovers and/or carrybacks have no affect on the self-employment tax liability of the year to which they are carried. You would still owe and SE tax on self employment.

IRC section 1402(a)(4).

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Your positive rating is thanks enough.

Expert:  Robin D. replied 1 year ago.

Please let me know if you need clarification