REG: Does a NFP have the benfit of a NOL?

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  • August 27, 2014 at 8:07 pm #188209
    Anonymous
    Inactive

    I know for corporations the NOL is calculated before any charitable contributions.

    But, I have a separate question:

    Can a Not for profit with unrelated business income have a net operating loss?

    I have 2 conflicting flash cards.

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  • August 27, 2014 at 9:52 pm #589967
    StephAV
    Member

    I just looked through our 990T and I don't think you can have an NOL. The taxable income is not related to the orgs mission. So why would an org do that unrelated activity if they were going to not make money doing it? Right? It looks like you can only offset the revenue down to 0, no loss. I could be wrong though.

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