cpaJA8
Level 2

NOL Worksheet 1: Comp of 2021 NOL line 24=<873>

Comp of Nonbusiness income 14,190. Nonbusiness Deducts 14,250.

Comp of 2021 Taxable income for NOL utilization: Taxable income <4043>+NOL from 2019 and later=3,110. 2021 taxable income before NOL deduct=<933>.

Schedule 1 line 8A 2019 NOL utilization: Initial loss and NOL carryover avail in 2021=1507. Taxable income before NOL deduct <933>.  NOL absorbed=0. Taxable income after NOL deduct=0. NOL carryover to 2022=1507.

Schedule 1 line 8A 2019 NOL utilization: Initial loss and NOL carryover avail in 2021=1603. Taxable income before NOL deduct 0.  NOL absorbed=0. Taxable income after NOL deduct=0. NOL carryover to 2022=1603.

NOL worksheet 3: Worksheet 1 line 25=873. Excess loss=0. NOL carryover to next year=873.

I do not want to carry any NOL back, only forward.  I keep getting the 80% limitation diagnostic.  I don't absorb any NOL do I since taxable loss?