I have a similar situation for 2019 on my 1040 return -- a negative $19K AGI from a schedule K loss. Now here is my question, the very first line of the Pub 536 worksheet #1 tells me to subtract my standard deduction from my AGI. So if I take -$19K and subtract $24400, I get -$43400.
When I complete the rest of the worksheet, I end up with a NOL of -$43400 on line 25. This number just doesn't seem right since it's way larger (in a negative sense) than the AGI on the 2019 return.
Am I missing something?
