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Get your taxes done using TurboTax
The net operating loss deduction for the current year would show up as a negative amount on line 8 of schedule 1, it is part of "Other Income." It would only occur if you had a NOL from another year carried over to it. If you have a NOL in the current year, it will be deducted in other years. Since you have no taxable income this year, you have no NOL deduction this year.
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‎January 19, 2022
5:03 PM