topic NOL with negative AGI in State tax filing

NOL with negative AGI

triciabee — Mon, 23 Feb 2026 10:39:59 GMT

If I have a negative AGI of $8,000 due solely to business (self-employed) Loss, and the worksheet for NOL tells me to subtract my standard deduction from my AGI, do I subtract the $12,950 from the negative $8,000 and come to $20,950 credit?

I've already looked at pub 536

Re: NOL with negaitive AGI

Anonymous_ — Thu, 19 Jan 2023 23:19:55 GMT

No. See https://www.irs.gov/publications/p536#en_US_2022_publink1000177330

Re: NOL with negaitive AGI

triciabee — Thu, 19 Jan 2023 23:28:10 GMT

I've looked there. It tells me to subtract my Standard Deduction from my AGI. My AGI is a negative....

Re: NOL with negaitive AGI

triciabee — Thu, 19 Jan 2023 23:30:48 GMT

I think I got it - If I do as it said, then on line 9 put the positive amount of $12950...then at the end on line 24 when I add the negative $20950 to the positive $12950 I get the $8,000. Dang forms --most times I feel like I'm just wasting my time with them. lol

Re: NOL with negaitive AGI

Anonymous_ — Thu, 19 Jan 2023 23:34:13 GMT

Yes, but you add it back again.

Most itemized deductions (except for casualty and theft losses resulting from a federally declared disaster and state income tax on trade or business income),