Yes, I used Schedule A of Form 1045 to calculate my NOL for 2016, though there are a few things that I was uncertain about. For Line 2 (nonbusiness capital losses), I used the amount in Line 15 of Form 1040, Schedule D (I had no short-term losses, only long-term). For Line 6 (nonbusiness deductions), I used the amount in Line 40 of Form 1040, which is essentially my standard deduction. For Line 11 (business capital losses), I used the amount in Line 31 of Form 1040, Schedule C, which is the net loss from my business. Did I fill out these rows correctly?
The result of this was a NOL of $105,800. Interestingly enough, when I entered this in TurboTax 2017 as my Net Operating Loss Carryover, it didn't make much of a dent in my Federal Balance Due. However, if I enter the same amount as AMT Net Operating Loss Carryover, my Federal Balance Due decreased dramatically. What is the difference between Net Operating Loss Carryover and AMT Net Operating Loss Carryover? Which is the one where I should state my 2016 NOL? Obviously, I am hoping the latter is correct, as this seems to have the bigger impact on my Federal Balance Due.
