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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 10121
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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What line from the previous year's 1040 if the amount is

Customer Question

What line from the previous year's 1040 if the amount is negative would be used as NOL for the following year? Is it the AGI?
Submitted: 1 year ago.
Category: Tax
Expert:  Lane replied 1 year ago.

Hi,

...

You can see that here: http://www.irs.gov/publications/p536/ar02.html from IRS

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Step 1. Complete your tax return for the year. You may have an NOL if a negative amount appears on the line below:

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That's AGI MINUS itemized or standard deduction

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