How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lane Your Own Question
Category: Tax
Satisfied Customers: 12679
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Type Your Tax Question Here...
Lane is online now
A new question is answered every 9 seconds

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: 2 years ago.
Category: Tax
Expert:  Lane replied 2 years ago.



You can see that here: from IRS


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


That's AGI MINUS itemized or standard deduction