https://ttlc.intuit.com/community/tax-credits-deductions/discussion/do-i-have-to-claim-a-deduction-for-a-nol-or-can-i-carry-it-forward/01/2752196#M264115 <P>I have a large NOL balance generated before 2021. To keep the math easy, let's say $40,000 was carried forward to 2021.</P><P>&nbsp;</P><P>In 2021, my income will only be around $30,000, but in 2022 it will be over $100,000. Do I have to claim the $30,000 NOL deduction in 2021, or can I carry it forward to 2022?</P><P>&nbsp;</P><P>I read the IRS publication on NOLs but found it extremely confusing and I don't think it really answered my question. Thanks</P> Tue, 10 Mar 2026 05:02:27 GMT helkohelko 2026-03-10T05:02:27Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/do-i-have-to-claim-a-deduction-for-a-nol-or-can-i-carry-it-forward/01/2752196#M264115 <P>I have a large NOL balance generated before 2021. To keep the math easy, let's say $40,000 was carried forward to 2021.</P><P>&nbsp;</P><P>In 2021, my income will only be around $30,000, but in 2022 it will be over $100,000. Do I have to claim the $30,000 NOL deduction in 2021, or can I carry it forward to 2022?</P><P>&nbsp;</P><P>I read the IRS publication on NOLs but found it extremely confusing and I don't think it really answered my question. Thanks</P> Tue, 10 Mar 2026 05:02:27 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/do-i-have-to-claim-a-deduction-for-a-nol-or-can-i-carry-it-forward/01/2752196#M264115 helkohelko 2026-03-10T05:02:27Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-do-i-have-to-claim-a-deduction-for-a-nol-or-can-i-carry-it-forward/01/2752201#M264116 <P>You have to report the NOL on your 2021 return and whatever amount is not utilized can be carried forward to the 2022 tax year.</P> Wed, 29 Jun 2022 15:09:09 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-do-i-have-to-claim-a-deduction-for-a-nol-or-can-i-carry-it-forward/01/2752201#M264116 Anonymous_ 2022-06-29T15:09:09Z