What does it mean if there’s a negative sign in front of your amount of income?

kimburchfield — Thu, 06 Jun 2019 15:51:52 GMT

A negative sign in front of your income represents a loss...

DanielV01 — Thu, 06 Jun 2019 15:51:54 GMT

A negative sign in front of your income represents a loss. If this is your only "income" of the year, you fall into the category of a Net Operating Loss (NOL), which can have additional impact on other tax years.

If this is your situation, (which can happen when establishing a business), you will want to study up on the subject to see the best strategy for carrying back and/or carrying forward the loss. It is a complicated subject, but worth the time. Here is a website that has excellent information to assist you: https://www.investopedia.com/terms/n/netoperatingloss.asp

topic What does it mean if there’s a negative sign in front of your amount of income? in State tax filing

What does it mean if there’s a negative sign in front of your amount of income?

A negative sign in front of your income represents a loss...