The TCJA also made changes to losses. Under TCJA, losses from a trade or business are now limited to $250,000 or $500,000 for a joint return. This includes activities reported on Schedule C by a self-employed individual and farming activities reported on Schedule F. It also includes being an employee and certain activities reported on Schedule E. Excess business losses that are no longer allowed are treated as a net operating loss (NOL) and carried forward to the following tax year.