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. Current Revision Publication 536 (PDF PDF | HTML | eBook) Recent Developments Frequently asked questions about carrybacks of NOLs for taxpayers who have had Section 965 inclusions Temporary Procedures To Fax Certain Forms 1045 Due to COVID-19 Fax Form 1045 To Claim Quick Refunds of Net Operating Loss Deductions Other Items You May Find Useful All Revisions for Publication 536 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 Other Current Products Related Items About Form 1040, U.S. Individual Income Tax Return About Form 1040-NR, U.S. Nonresident Alien Income Tax Return About Form 1041, U.S. Income Tax Return for Estates and Trusts About Form 1041, U.S. Income Tax Return for Estates and Trusts About Form 1045, Application for Tentative Refund
