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If a return has generated a Net Operating Loss (NOL) in the current year, there will be a Green Alert in the return titled Green Alert - Net Operating Loss. The NOL amount will be reflected on Line 25 in Schedule A--NOL of Form 1045 Application for Tentative Refund. Instructions to review/modify the information and then print the schedule in the TaxAct® program are provided below followed by information on how to carry back that loss (if you do not elect to carry the loss forward). Note. If there was any gain in the return excluded under section 1202 on the sale or exchange of qualified small business stock, that would need to be entered as a positive number on Line 17 of the same Schedule A--NOL in Form 1045.


To review the current year NOL information:

  1. From within your TaxAct return (Online), click the Tools dropdown, then click Forms Assistant.
  2. In the FEDERAL Forms section, click + next to the Forms and Schedules manila folder (if it is not already expanded).
  3. Scroll down and click Form 1045 - Schedule A--NOL, then click + Add to create a new copy of the form, or click Form to edit a form already created.
  4. Fill out the form with your information, and click Save & Close (for more information, click Form Instructions in the top left corner).

Green numbers (or 0) are user-entered fields where you would determine if any amount needs to be entered in that field and enter it. Blue numbers (or 0) are either program-calculated fields or, if you click a field and a yellow manila folder appears to the side, entries transferred from supporting forms. Click the manila folder to view/modify the supporting form that populates that field.

To print the schedule:

  1. From within your TaxAct return (Online), click the Print Center dropdown, then click Custom Print.
  2. In the Forms and Schedules section, click the checkbox next to Federal Form 1045 - Application for Tentative Refund Schedule A--NOL.
  3. Click Print, then click the PDF link that is provided for printing. Click the print icon, then click Print in the dialog box that appears.

Note. If you see a message indicating you have not paid, you will need to click the View/Pay your return fees link which will direct you through the Paper Filing steps. Continue through the screens until you have processed the payment for your product fees, then repeat the steps to print.

  1. From within your TaxAct return (Desktop), click Forms in the upper menu bar.
  2. Click Federal from the dropdown in Forms Explorer, then click the Forms and Schedules dropdown.
  3. Scroll down and click Form 1045 - Schedule A--NOL to open a form you already created in Forms View, click + Add New in the dropdown that appears below Form 1045 in Forms Explorer to create a new form.
  4. Click the View form instructions icon at the top of Forms View for more information.

Green numbers (or 0) are user-entered fields where you would determine if any amount needs to be entered in that field and enter it. Blue numbers (or 0) are either program-calculated fields or, if you click a field and a yellow manila folder appears to the side, entries transferred from supporting forms. Click the manila folder to view/modify the supporting form that populates that field.

To print the schedule:

  • From within your TaxAct return (Desktop), with Form 1045 in Forms View, click the Print current form icon at the top of Forms View.
  • A print dialog box appears, so you can choose what printer to use and more options. Click Ok when you are ready to print.

How to carry back the NOL

If you choose to carry the loss back to a prior year for a refund, you can go to our Form 1045 - Application for Tentative Refund (Current Year NOL) (CARRYBACK) FAQ for more information and navigation instructions.


Related Information

  • Publication 536 explains how to figure a NOL, when to use it, how to claim a NOL deduction and how to figure a NOL carryover.
  • Form 1045 Application for Tentative Refund
  • Form 1045 Application for Tentative Refund Additional Forms
  • Form 1045 Schedule A--NOL (form listed in the instructions above)
  • Form 1045 Schedule B--NOL Carryover
  • Form 1045 Net Operating Loss Classification Worksheet
  • Form 1045 Detail and Notes - Detail and Notes Worksheet

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.


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