Winnie5911
Level 3

Hello Jeff,

I have to be missing something.  So I have the full loss on the Regular tax NOL worksheet. 

It brings total from line 1040 line 8 &9 from line 8b, as -138k.  Because 1040 line 8 & 9 is carrying over the full NOL from schedule 1 line 8.  Line 23 has the NOL from prior years correct.  Line 24 has 7k (farm income less self employment deductions)

The 1040 adjusted gross income shows -111k. This can't be.

On the NOL classification worksheet, it shows the farm income 10k, self employed insurance and tax deduction = 2k  They have a standard deduction 27.4k. 

Please help.

0 Cheers