How to Report Net Operating Loss (NOL) Carry Forward on an IRS Form 1040 - John R. Dundon II, Enrolled Agent
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How to Report Net Operating Loss (NOL) Carry Forward on an IRS Form 1040

How to Report Net Operating Loss (NOL) Carry Forward on an IRS Form 1040

If you carry forward your NOL to a tax year after the NOL year, list your NOL deduction as a negative figure on the Other income line of Form 1040 or Form 1040NR (line 21 for 2009). Estates and trusts include an NOL deduction on Form 1041 with other deductions not subject to the 2% limit (line 15a for 2009).

You must attach a statement that shows all the important facts about the NOL. Your statement should include a computation showing how you figured the NOL deduction. If you deduct more than one NOL in the same year, your statement must cover each.




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