Table of Contents
For the latest information about developments related to Publication 536, such as legislation enacted after it was published, go to www.irs.gov/pub536.
Photographs of missing children. The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.
If your deductions for the year are more than your income for the year, you may have a net operating loss (NOL). An NOL year is the year in which an NOL occurs. You can use an NOL by deducting it from your income in another year or years.
How to figure an NOL,
When to use an NOL,
How to claim an NOL deduction, and
How to figure an NOL carryover.
To have an NOL, your loss must generally be caused by deductions from your:
Trade or business,
Work as an employee,
Casualty and theft losses,
Moving expenses, or
A loss from operating a business is the most common reason for an NOL.
Partnerships and S corporations generally cannot use an NOL. However, partners or shareholders can use their separate shares of the partnership's or S corporation's business income and business deductions to figure their individual NOLs.
Bankruptcies. See Publication 908, Bankruptcy Tax Guide.
NOLs of corporations. See Publication 542, Corporations.
Internal Revenue Service
Tax Forms and Publications
1111 Constitution Ave. NW, IR-6526
Washington, DC 20224
Form (and Instructions)
1040X Amended U.S. Individual Income Tax Return
1045 Application for Tentative Refund
See How To Get Tax Help near the end of this publication for information about getting these forms.
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