Introduction If your deductions for the year are more than your income for theyear, you may have a net operating loss (NOL). You can use an NOL bydeducting it from your income in another year or years. Thispublication discusses NOLs for individuals, estates, and trusts. Itexplains how to figure an NOL, when to use it, how to claim an NOLdeduction, and how to figure an NOL carryover. To have an NOL, your loss must be caused by one of the followingkinds of deductions. From a trade or business. From your work as an employee. Katowice accommodationFor casualty and theft losses. A loss from operating a business is the most common reason for anNOL. Partnerships and S corporations generally cannot use an NOL. Butpartners or shareholders can use their separate shares of thepartnership's or S corporation's business income and businessdeductions to figure their individual NOLs. What is not covered in this publication.The following topics are not covered in this publication. Bergen hotelsBankruptcies. See Publication 908, Bankruptcy TaxGuide. NOLs of Corporations. See Publication 542,Corporations. Chambre VilamouraSpecified liability losses. See the Form 1045instructions.