Can a negative taxable income be carried forward to offset future incomes? No. However, a Net Operating Loss can be carried backwards two, three or five years (depending on the source of the loss) and then forward for 20. A net capital loss in excess of $3000 can be carried forward. A passive activity loss can be carried forward. Without further information as to how you got to a negative taxable income, we can't provide any guidance. (Excess itemized deductions/personal exemptions won't create a carryforward situation.)Ira
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