Calculate prior-year amounts for a Net Operating Loss (NOL) carryback

Before you complete the
NOL-2
screen in the
Carryovers & NOL
folder, follow these steps to recalculate prior-year tax returns using prior-year forms.
  1. Get copies of the original tax returns for the years you're carrying information back.
  2. If there's a current-year NOL and you're carrying the NOL back to preceding tax years, recalculate the prior-year returns with the carryback information.
  3. Use the original returns and the recalculated returns to complete the
    NOL-2
    screen.
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