File Form 1040X Amended Return for a Net Operating Loss (NOL) carryback

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To use Form 1040X to carryback a Net Operating Loss (NOL):

  1. Complete the amended return.
  2. On the Amend screen, mark the Carryback related to: NOL or Carryback related to: GBC checkbox. The Carryback claim box will be marked automatically.
  3. Go to the NOLCO screen, in the 1045 & NOL folder.
  4. Fill out the NOL carryback section.

"Carryback Claim" will show up on the top of Form 1040-X. For more information about using Form 1040-X for a refund on NOL carrybacks, see the Form 1040-X instructions.

Note: Since the TCJA passed, NOL carryback losses have been limited for most taxpayers.


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Using UltraTax CS to carryback a net operating loss

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