Which of the following items may NOT create an NOL 1Sole pro

Which of the following items may NOT create an NOL? 1--Sole proprietorship loss. 2--Employee business expense. 3--Casualty loss. 4--Medical expense.

Solution

The answer is \"Casualty Loss\".

Casualty loss is create by unexpected event as Fire, Damage, Destruction etc. that loss is not operating loss.