If your deductions for the year are more than your income for the year, you may have a net operating loss (NOL).
Publication 536 covers NOLs for individuals, estates and trusts:
- How to figure an NOL.
- When to use an NOL.
- How to claim an NOL deduction.
- How to figure an NOL carryover.
Other Items You May Find Useful
About Publication 225, Farmer's Tax Guide
About Publication 334, Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ)
About Publication 535, Business Expenses
About Publication 542, Corporations
About Publication 908, Bankruptcy Tax Guide