1040-US: Entering a NOL carryback with losses for multiple carryback periods

Alerts and notices
Leave feedback

Internal Employees: Submit feedback

Contact information (optional):

Leave this blank:

Please tell us how we can make this information more helpful.

Characters left:

Change to CS Support service hours

Our Support department is closed on [[date]]. However, limited UltraTax CS phone support is available on that date from 9 AM - 5 PM ET due to the approaching deadline.

Links to our most popular tax processing topics are available in the Alerts and notices section on the right side of most pages.


How do I enter a NOL carryback that consists of losses for multiple carryback periods?


If the NOL consists of a combination of regular, eligible, or farming losses:

  1. Enter the longest applicable carryback period in the Carryback period field on Screen 1045.
  2. Enter the farming loss portion in the NOL 5 year farming loss carryback if not 100% of NOL field.
  3. Enter the eligible loss portion of the NOL in the NOL 3 year eligible loss carryback if not 100% of NOL field.


  • Any amount not entered in the 5-year or 3-year fields will be treated as a 2-year carryback.
  • Per the Form 1045 instructions, only the portion of the NOL attributable to eligible losses and farming losses should be entered in the 3-year and 5-year fields, respectively. More information on which losses qualify for each carryback period can be found in the Form 1045 instructions or in IRS Publication 536.

Related topic: Form 1045 and net operating loss worksheet FAQs (1040)

Share This