Thank you for your question.
The short answer to your question is you START with the NOL as it is entered on line 21
When you calculate the $ amount of the NOL that you will carryover, you will follow the instructions for Form
1045 Schedule B.
which first wants you to enter the AGI WITHOUT the NOL, and then in the next column, you would enter the AGI WITH the NOL.
(which would be on line 21)
You must do all of the steps found on Schedule B of the 1045 form, since there are adjustments
that must be made for personal exemptions
, and possibly some Schedule A
Here is a link to the instructions (Remember to find Schedule B)http://www.irs.gov/pub/irs-pdf/i1045.pdf
and to the 1045 form itselfhttp://www.irs.gov/pub/irs-pdf/i1045.pdf
There is no place on the 1040 itself that will show the NOL carryover from 2011-2012. Those adjustments are made, and carried through the 1045 form .
However, the NOL will always be less each year than it was the year before, if for no other reason than you must adjust it by the personal exemptions.
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