Business & farm

do you even have an NOL from 2020?   under the tax laws, the default is you must carryback a 2020 NOL to 2015.  any used is carried forward to the next year and so forth.  however, if you included in your 2020 return an election to forgo the NOL carryback period then it goes to 2021

 

 

 

to figure out if you actually have an NOL use schedule A from form 1045. it starts on page 3

https://www.irs.gov/pub/irs-pdf/f1045.pdf