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- Carryforward NOL and a current negative AGI
Carryforward NOL and a current negative AGI
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Gwen4
Level 3
04-13-2026
11:25 AM
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Hello all fellow taxinators!! The end is almost near! I actually enjoy tax season until we get to this week and then my brain refuses to work any more. Picture someone trying to move a mule that is NOT going anywhere. That's me and my brain right now that is an issue I don't deal with regularly.
I have a client that has an NOL from last year, and a negative AGI for this year. And of course, Proconnect does not calculate the NOL absorbed in the current year, but it does add the full amount to the Schedule 1. And my brain is not comprehending what I'm reading right now, and I don't deal with a lot of recurring NOLS anyway. So if they had a negative AGI, then nothing is absorbed, correct?? But it doesn't like the 0, which makes me second guess myself. If it's adding it to Schedule 1, is it absorbing it all? The 172 acts like nothing is carrying over to the next year. And then I read other posts that say Proconnect doesn't do this issue correctly, which is SUPER helpful this time of year. Is there someone out there smarter than me - well, I know there are those out there smarter than me - but on this issue that can help me make sure I do this correctly?
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