alternative tax net operating loss deduction

(1) In general For purposes of subsection (a)(4), the term “alternative tax net operating loss deduction” means the net operating loss deduction allowable for the taxable year under section 172, except that— (A) the amount of such deduction shall not exceed the sum of— (i) the lesser of— (I) the amount of such deduction attributable to net operating losses (other than the deduction described in clause (ii)(I)), or (II) 90 percent of alternative minimum taxable income determined without regard to such deduction and the deduction under section 199, 1 plus (ii) the lesser of— (I) the amount of such deduction attributable to an applicable net operating loss with respect to which an election is made under section 172(b)(1)(H) (as in effect before its repeal by the Tax Increase Prevention Act of 2014), or (II) alternative minimum taxable income determined without regard to such deduction and the deduction under section 199 1 reduced by the amount determined under clause (i), and (B) in determining the amount of such deduction— (i) the net operating loss (within the meaning of section 172(c) ) for any loss year shall be adjusted as provided in paragraph (2), and (ii) appropriate adjustments in the application of section 172(b)(2) shall be made to take into account the limitation of subparagraph (A).

Source

26 USC § 56(d)(1)

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Scoping language

None identified, default scope is assumed to be the parent (part VI) of this section.

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