You indicate that you have a NOL, but that most likely is not accurate.
While you have a loss at the S corp level, this loss flows through to your personal tax return. If you have basis to take the loss, the loss will then be taken on your 1040. If you do not have sufficient basis, then the loss is not included in your personal tax return and is suspended.
The determination of whether or not you have a NOL is at your personal return level. If you do in fact have a NOL at your personal tax return level, then as indicated previously, the carryback option has been eliminated.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
