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rootsmusic
Level 2
December 8, 2025

form 172 NOL carryover for individuals

  • December 8, 2025
  • 1 reply
  • 11 views

In the instructions (page 5), line 3 in Part II refers to "net long-term capital loss".  But what about the deduction limit on capital loss and short-term capital loss, especially as they relate to calculating line 2?  The individual's non-business NOL arose in 2015.  Thanks.

    1 reply

    T
    Terry53029Intuit Community Champion
    Intuit Community Champion
    December 9, 2025

    Not sure what your question is. An NOL is normally a result of a business loss that is more than personal income for the year resulting in an over all loss.

    R
    rootsmusicAuthor
    Level 2
    December 9, 2025

    (Sorry @Terry53029, let me try to clarify.)
    1. Should Line 3 be limited by the deduction limitation on net long-term capital loss?
    2. In the calculation for Line 2, should short-term capital loss be included in addition to the Line 3 amount?

    T
    Terry53029Intuit Community Champion
    Intuit Community Champion
    December 9, 2025

    You say his non business NOL from 2015. Is it from a rental or a business ? what caused his NOL from 2015. As far as the instructions for for form 172 it is asking for gain/loss from schedule D. has nothing to do with the $3000 limit on form 1040

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