. . . which was interest from a regular bank account.
Is this a Net Operating Loss?
Is there anything I need to do apart from entering the value on line 22 and $0 for tax due?
"
Is this a Net Operating Loss?"
Most likely there is no net operating loss because a net operating loss cannot be created when nonbusiness deductions exceed nonbusiness income. See https://www.irs.gov/publications/p536/ar02.html#en_US_2016_publink1000177329
Also, the exemption is not included when figuring an NOL. See https://www.irs.gov/instructions/i1041/ch02.html#d0e3851
"
Is this a Net Operating Loss?"
Most likely there is no net operating loss because a net operating loss cannot be created when nonbusiness deductions exceed nonbusiness income. See https://www.irs.gov/publications/p536/ar02.html#en_US_2016_publink1000177329
Also, the exemption is not included when figuring an NOL. See https://www.irs.gov/instructions/i1041/ch02.html#d0e3851
Thanks so much for your reply. So, for my second question, do I simply enter the negative taxable income amount on line 22, and $0 for tax due and submit the return? Or do I not need to submit the return if no tax is due?
I would suggest submitting the return showing the negative taxable income on Line 22.