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Get your taxes done using TurboTax
I'm not sure from your post what your federal taxable income was. That would be the amount on line 15 of your form 1040. To that number, you would have to add back any net operating loss (NOL), as entered on line 8 of schedule 1. That would give you your taxable income before the NOL deduction, and you would multiply that amount by 80% to get the NOL deduction allowed for the state.
I assume you have positive taxable income, so that would give you a number for the NOL deduction. If you had no taxable income or it was negative, then you would have no NOL deduction for the current year.
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‎January 19, 2022
4:22 PM