Screen NOLCO - NOL Carryover, Carryback (1040)

NOL Carryovers

All items carry forward. If a prior-year NOL carried back, enter the net NOL to carry forward. Prior year Form 8960 Worksheets calculate the
Net investment income applicable percent of NOL
field amount for carryovers and carryback. If no net investment income NOL, you may enter
0
(zero). Form 8960, line 7, includes the net investment income portion.

NOL Carrybacks

Enter information in these fields when carrying back a farm net operating loss from subsequent years. The regular tax carryback transfers to Form 1040, Schedule 1, line 8, and the AMT carryback to Form 6251, line 2f. Use the information on the recomputed return to complete Form 1045 or Form 1040X for a refund.

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