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Federal housing law

1224 Form 172 (PDF)

Federal housing law as enacted — verbatim and citable.

Edition
2026-10-03
Last updated
2026-10-04
Jurisdiction
United States
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Official source: IRS Forms, Instructions & Publications (https://www.irs.gov/pub/irs-pdf/f172.pdf), retrieved 2026-10-03. U.S. Government work (17 U.S.C. § 105).

Form

172

(December 2024)

Department of the Treasury Internal Revenue Service

Exceptions & meaning →

Net Operating Losses (NOLs)

For Individuals, Estates, and Trusts. Go to www.irs.gov/Form172 for instructions and the latest information.

OMB No. 1545-0074

For calendar year, or other tax year beginning and ending

Name(s) shown on return Social security or employer identification number
Address (number and street). If you have a P.O. box, see instructions. Address (number and street). If you have a P.O. box, see instructions. Address (number and street). If you have a P.O. box, see instructions. Apt. or suite no. Spouse’s social security number (SSN)
City, town, or post office. If you have a foreign address, also complete spaces below. City, town, or post office. If you have a foreign address, also complete spaces below. State ZIP code Daytime phone number
Foreign country name

 Foreign province/county Foreign province/county Foreign province/county Foreign postal code
1 For individuals, subtract your standard deduction or itemized deductions from your adjusted gross
income (AGI) and enter it here. For estates and trusts, enter taxable income increased by the total of
the charitable deduction, income distribution deduction, and exemption amount . . . . . . .
2 Nonbusiness capital losses before limitation. Enter as a positive number . . 2
3 Nonbusiness capital gains (without regard to any section 1202 exclusion) . . 3
4 If line 2 is more than line 3, enter the difference. Otherwise, enter -0- . . . 4
5 If line 3 is more than line 2, enter the difference.
Otherwise, enter -0- . . . . . . . . . . . 5
6 Nonbusiness deductions (see instructions). Enter as a positive number . . 6
7 Nonbusiness income other than capital gains (see
instructions) . . . . . . . . . . . . . . 7
8 Add lines 5 and 7 . . . . . . . . . . . . . . . . . . . . 8
9 If line 6 is more than line 8, enter the difference. Otherwise, enter -0- . . . . . . . . . . .
10 If line 8 is more than line 6, enter the difference.
Otherwise, enter -0-. But don’t enter more than line 5 10
11 Business capital losses before limitation. Enter as a positive number . . . 11
12 Business capital gains (without regard to any section
1202 exclusion) . . . . . . . . . . . . . 12
13 Add lines 10 and 12 . . . . . . . . . . . . . . . . . . . 13
14 Subtract line 13 from line 11. If zero or less, enter -0- . . . . . . . . 14
15 Add lines 4 and 14 . . . . . . . . . . . . . . . . . . . . 15
16 Enter, if any, the combined net short-term and long-term capital loss from your
Schedule D (Form 1040). Estates and trusts, enter, if any, the total net
short-term and long-term loss from Schedule D (Form 1041). Enter as a
positive number. If you don’t have a loss on that line (and don’t have a section
1202 exclusion), skip lines 16 through 21 and enter on line 22 the amount from
line 15 . . . . . . . . . . . . . . . . . . . . . . . . 16
17 Section 1202 exclusion. Enter as a positive number . . . . . . . . . . . . . . . . .
18 Subtract line 17 from line 16. If zero or less, enter -0- . . . . . . . . 18
19 If line 16 is a loss, enter, as a positive number, the smaller of:
• The loss on line 16; or
• $3,000 (If filing Form 1040, $1,500 when married filing separately) . . . 19
20 If line 18 is more than line 19, enter the difference. Otherwise, enter -0- . . 20
21 If line 19 is more than line 18, enter the difference. Otherwise, enter -0- . . . . . . . . . .
22 Subtract line 20 from line 15. If zero or less, enter -0- . . . . . . . . . . . . . . . .
23 NOL deduction for losses from other years. Enter as a positive number . . . . . . . . . .
24 NOL. Combine lines 1, 9, 17, and 21 through 23. If the result is less than zero, enter it here. If the
result is zero or more, you don’t have an NOL . . . . . . . . . . . . . . . . . .		 1
**1 **

For individuals, subtract your standard deduction or itemized deductions from your adjusted gross
income (AGI) and enter it here. For estates and trusts, enter taxable income increased by the total of
the charitable deduction, income distribution deduction, and exemption amount
.
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2
Nonbusiness capital losses before limitation. Enter as a positive number .
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2
3
Nonbusiness capital gains (without regard to any section 1202 exclusion) .
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3
4
If line 2 is more than line 3, enter the difference. Otherwise, enter -0- .
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4
**5 **
If line 3 is more than line 2, enter the difference.
Otherwise, enter -0-
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5
6
Nonbusiness deductions (see instructions). Enter as a positive number
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6
**7 **
Nonbusiness income other than capital gains (see
instructions) .
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7
8
Add lines 5 and 7 .
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8
9
If line 6 is more than line 8, enter the difference. Otherwise, enter -0- .
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10
If line 8 is more than line 6, enter the difference.
Otherwise, enter -0-.But don’t enter more than line 5
10
11
Business capital losses before limitation. Enter as a positive number
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11
12
Business capital gains (without regard to any section
1202 exclusion) .
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12
13
Add lines 10 and 12
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13
14
Subtract line 13 from line 11. If zero or less, enter -0-
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14
15
Add lines 4 and 14 .
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15
16




Enter, if any, the combined net short-term and long-term capital loss from your
Schedule D (Form 1040). Estates and trusts, enter, if any, the total net
short-term and long-term loss from Schedule D (Form 1041). Enter as a
positive number. If you don’t have a loss on that line (and don’t have a section
1202 exclusion), skip lines 16 through 21 and enter on line 22 the amount from
line 15 .
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16
17
Section 1202 exclusion. Enter as a positive number .
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18
Subtract line 17 from line 16. If zero or less, enter -0-
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18
19
If line 16 is a loss, enter, as a positive number, the smaller of:
• The loss on line 16; or
• $3,000 (If filing Form 1040, $1,500 when married filing separately)
.
.
.
19
20
If line 18 is more than line 19, enter the difference. Otherwise, enter -0-
.
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20
21
If line 19 is more than line 18, enter the difference. Otherwise, enter -0-
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22
Subtract line 20 from line 15. If zero or less, enter -0-
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23
NOL deduction for losses from other years. Enter as a positive number
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24
NOL. Combine lines 1, 9, 17, and 21 through 23. If the result is less than zero, enter it here. If the
result is zero or more, you don’t have an NOL .
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.		 9
1 For individuals, subtract your standard deduction or itemized deductions from your adjusted gross
income (AGI) and enter it here. For estates and trusts, enter taxable income increased by the total of
the charitable deduction, income distribution deduction, and exemption amount . . . . . . .
2 Nonbusiness capital losses before limitation. Enter as a positive number . . 2
3 Nonbusiness capital gains (without regard to any section 1202 exclusion) . . 3
4 If line 2 is more than line 3, enter the difference. Otherwise, enter -0- . . . 4
5 If line 3 is more than line 2, enter the difference.
Otherwise, enter -0- . . . . . . . . . . . 5
6 Nonbusiness deductions (see instructions). Enter as a positive number . . 6
7 Nonbusiness income other than capital gains (see
instructions) . . . . . . . . . . . . . . 7
8 Add lines 5 and 7 . . . . . . . . . . . . . . . . . . . . 8
9 If line 6 is more than line 8, enter the difference. Otherwise, enter -0- . . . . . . . . . . .
10 If line 8 is more than line 6, enter the difference.
Otherwise, enter -0-. But don’t enter more than line 5 10
11 Business capital losses before limitation. Enter as a positive number . . . 11
12 Business capital gains (without regard to any section
1202 exclusion) . . . . . . . . . . . . . 12
13 Add lines 10 and 12 . . . . . . . . . . . . . . . . . . . 13
14 Subtract line 13 from line 11. If zero or less, enter -0- . . . . . . . . 14
15 Add lines 4 and 14 . . . . . . . . . . . . . . . . . . . . 15
16 Enter, if any, the combined net short-term and long-term capital loss from your
Schedule D (Form 1040). Estates and trusts, enter, if any, the total net
short-term and long-term loss from Schedule D (Form 1041). Enter as a
positive number. If you don’t have a loss on that line (and don’t have a section
1202 exclusion), skip lines 16 through 21 and enter on line 22 the amount from
line 15 . . . . . . . . . . . . . . . . . . . . . . . . 16
17 Section 1202 exclusion. Enter as a positive number . . . . . . . . . . . . . . . . .
18 Subtract line 17 from line 16. If zero or less, enter -0- . . . . . . . . 18
19 If line 16 is a loss, enter, as a positive number, the smaller of:
• The loss on line 16; or
• $3,000 (If filing Form 1040, $1,500 when married filing separately) . . . 19
20 If line 18 is more than line 19, enter the difference. Otherwise, enter -0- . . 20
21 If line 19 is more than line 18, enter the difference. Otherwise, enter -0- . . . . . . . . . .
22 Subtract line 20 from line 15. If zero or less, enter -0- . . . . . . . . . . . . . . . .
23 NOL deduction for losses from other years. Enter as a positive number . . . . . . . . . .
24 NOL. Combine lines 1, 9, 17, and 21 through 23. If the result is less than zero, enter it here. If the
result is zero or more, you don’t have an NOL . . . . . . . . . . . . . . . . . .		 1
**1 **

For individuals, subtract your standard deduction or itemized deductions from your adjusted gross
income (AGI) and enter it here. For estates and trusts, enter taxable income increased by the total of
the charitable deduction, income distribution deduction, and exemption amount
.
.
.
.
.
.
.
2
Nonbusiness capital losses before limitation. Enter as a positive number .
.
2
3
Nonbusiness capital gains (without regard to any section 1202 exclusion) .
.
3
4
If line 2 is more than line 3, enter the difference. Otherwise, enter -0- .
.
.
4
**5 **
If line 3 is more than line 2, enter the difference.
Otherwise, enter -0-
.
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.
.
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.
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.
5
6
Nonbusiness deductions (see instructions). Enter as a positive number
.
.
6
**7 **
Nonbusiness income other than capital gains (see
instructions) .
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7
8
Add lines 5 and 7 .
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8
9
If line 6 is more than line 8, enter the difference. Otherwise, enter -0- .
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10
If line 8 is more than line 6, enter the difference.
Otherwise, enter -0-.But don’t enter more than line 5
10
11
Business capital losses before limitation. Enter as a positive number
.
.
.
11
12
Business capital gains (without regard to any section
1202 exclusion) .
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12
13
Add lines 10 and 12
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13
14
Subtract line 13 from line 11. If zero or less, enter -0-
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14
15
Add lines 4 and 14 .
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15
16




Enter, if any, the combined net short-term and long-term capital loss from your
Schedule D (Form 1040). Estates and trusts, enter, if any, the total net
short-term and long-term loss from Schedule D (Form 1041). Enter as a
positive number. If you don’t have a loss on that line (and don’t have a section
1202 exclusion), skip lines 16 through 21 and enter on line 22 the amount from
line 15 .
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16
17
Section 1202 exclusion. Enter as a positive number .
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18
Subtract line 17 from line 16. If zero or less, enter -0-
.
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.
18
19
If line 16 is a loss, enter, as a positive number, the smaller of:
• The loss on line 16; or
• $3,000 (If filing Form 1040, $1,500 when married filing separately)
.
.
.
19
20
If line 18 is more than line 19, enter the difference. Otherwise, enter -0-
.
.
20
21
If line 19 is more than line 18, enter the difference. Otherwise, enter -0-
.
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22
Subtract line 20 from line 15. If zero or less, enter -0-
.
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23
NOL deduction for losses from other years. Enter as a positive number
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24
NOL. Combine lines 1, 9, 17, and 21 through 23. If the result is less than zero, enter it here. If the
result is zero or more, you don’t have an NOL .
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.		 17
1 For individuals, subtract your standard deduction or itemized deductions from your adjusted gross
income (AGI) and enter it here. For estates and trusts, enter taxable income increased by the total of
the charitable deduction, income distribution deduction, and exemption amount . . . . . . .
2 Nonbusiness capital losses before limitation. Enter as a positive number . . 2
3 Nonbusiness capital gains (without regard to any section 1202 exclusion) . . 3
4 If line 2 is more than line 3, enter the difference. Otherwise, enter -0- . . . 4
5 If line 3 is more than line 2, enter the difference.
Otherwise, enter -0- . . . . . . . . . . . 5
6 Nonbusiness deductions (see instructions). Enter as a positive number . . 6
7 Nonbusiness income other than capital gains (see
instructions) . . . . . . . . . . . . . . 7
8 Add lines 5 and 7 . . . . . . . . . . . . . . . . . . . . 8
9 If line 6 is more than line 8, enter the difference. Otherwise, enter -0- . . . . . . . . . . .
10 If line 8 is more than line 6, enter the difference.
Otherwise, enter -0-. But don’t enter more than line 5 10
11 Business capital losses before limitation. Enter as a positive number . . . 11
12 Business capital gains (without regard to any section
1202 exclusion) . . . . . . . . . . . . . 12
13 Add lines 10 and 12 . . . . . . . . . . . . . . . . . . . 13
14 Subtract line 13 from line 11. If zero or less, enter -0- . . . . . . . . 14
15 Add lines 4 and 14 . . . . . . . . . . . . . . . . . . . . 15
16 Enter, if any, the combined net short-term and long-term capital loss from your
Schedule D (Form 1040). Estates and trusts, enter, if any, the total net
short-term and long-term loss from Schedule D (Form 1041). Enter as a
positive number. If you don’t have a loss on that line (and don’t have a section
1202 exclusion), skip lines 16 through 21 and enter on line 22 the amount from
line 15 . . . . . . . . . . . . . . . . . . . . . . . . 16
17 Section 1202 exclusion. Enter as a positive number . . . . . . . . . . . . . . . . .
18 Subtract line 17 from line 16. If zero or less, enter -0- . . . . . . . . 18
19 If line 16 is a loss, enter, as a positive number, the smaller of:
• The loss on line 16; or
• $3,000 (If filing Form 1040, $1,500 when married filing separately) . . . 19
20 If line 18 is more than line 19, enter the difference. Otherwise, enter -0- . . 20
21 If line 19 is more than line 18, enter the difference. Otherwise, enter -0- . . . . . . . . . .
22 Subtract line 20 from line 15. If zero or less, enter -0- . . . . . . . . . . . . . . . .
23 NOL deduction for losses from other years. Enter as a positive number . . . . . . . . . .
24 NOL. Combine lines 1, 9, 17, and 21 through 23. If the result is less than zero, enter it here. If the
result is zero or more, you don’t have an NOL . . . . . . . . . . . . . . . . . .		 1
**1 **

For individuals, subtract your standard deduction or itemized deductions from your adjusted gross
income (AGI) and enter it here. For estates and trusts, enter taxable income increased by the total of
the charitable deduction, income distribution deduction, and exemption amount
.
.
.
.
.
.
.
2
Nonbusiness capital losses before limitation. Enter as a positive number .
.
2
3
Nonbusiness capital gains (without regard to any section 1202 exclusion) .
.
3
4
If line 2 is more than line 3, enter the difference. Otherwise, enter -0- .
.
.
4
**5 **
If line 3 is more than line 2, enter the difference.
Otherwise, enter -0-
.
.
.
.
.
.
.
.
.
.
.
5
6
Nonbusiness deductions (see instructions). Enter as a positive number
.
.
6
**7 **
Nonbusiness income other than capital gains (see
instructions) .
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7
8
Add lines 5 and 7 .
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8
9
If line 6 is more than line 8, enter the difference. Otherwise, enter -0- .
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10
If line 8 is more than line 6, enter the difference.
Otherwise, enter -0-.But don’t enter more than line 5
10
11
Business capital losses before limitation. Enter as a positive number
.
.
.
11
12
Business capital gains (without regard to any section
1202 exclusion) .
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12
13
Add lines 10 and 12
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13
14
Subtract line 13 from line 11. If zero or less, enter -0-
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14
15
Add lines 4 and 14 .
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15
16




Enter, if any, the combined net short-term and long-term capital loss from your
Schedule D (Form 1040). Estates and trusts, enter, if any, the total net
short-term and long-term loss from Schedule D (Form 1041). Enter as a
positive number. If you don’t have a loss on that line (and don’t have a section
1202 exclusion), skip lines 16 through 21 and enter on line 22 the amount from
line 15 .
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16
17
Section 1202 exclusion. Enter as a positive number .
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18
Subtract line 17 from line 16. If zero or less, enter -0-
.
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.
.
18
19
If line 16 is a loss, enter, as a positive number, the smaller of:
• The loss on line 16; or
• $3,000 (If filing Form 1040, $1,500 when married filing separately)
.
.
.
19
20
If line 18 is more than line 19, enter the difference. Otherwise, enter -0-
.
.
20
21
If line 19 is more than line 18, enter the difference. Otherwise, enter -0-
.
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22
Subtract line 20 from line 15. If zero or less, enter -0-
.
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23
NOL deduction for losses from other years. Enter as a positive number
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24
NOL. Combine lines 1, 9, 17, and 21 through 23. If the result is less than zero, enter it here. If the
result is zero or more, you don’t have an NOL .
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.		 21
1 For individuals, subtract your standard deduction or itemized deductions from your adjusted gross
income (AGI) and enter it here. For estates and trusts, enter taxable income increased by the total of
the charitable deduction, income distribution deduction, and exemption amount . . . . . . .
2 Nonbusiness capital losses before limitation. Enter as a positive number . . 2
3 Nonbusiness capital gains (without regard to any section 1202 exclusion) . . 3
4 If line 2 is more than line 3, enter the difference. Otherwise, enter -0- . . . 4
5 If line 3 is more than line 2, enter the difference.
Otherwise, enter -0- . . . . . . . . . . . 5
6 Nonbusiness deductions (see instructions). Enter as a positive number . . 6
7 Nonbusiness income other than capital gains (see
instructions) . . . . . . . . . . . . . . 7
8 Add lines 5 and 7 . . . . . . . . . . . . . . . . . . . . 8
9 If line 6 is more than line 8, enter the difference. Otherwise, enter -0- . . . . . . . . . . .
10 If line 8 is more than line 6, enter the difference.
Otherwise, enter -0-. But don’t enter more than line 5 10
11 Business capital losses before limitation. Enter as a positive number . . . 11
12 Business capital gains (without regard to any section
1202 exclusion) . . . . . . . . . . . . . 12
13 Add lines 10 and 12 . . . . . . . . . . . . . . . . . . . 13
14 Subtract line 13 from line 11. If zero or less, enter -0- . . . . . . . . 14
15 Add lines 4 and 14 . . . . . . . . . . . . . . . . . . . . 15
16 Enter, if any, the combined net short-term and long-term capital loss from your
Schedule D (Form 1040). Estates and trusts, enter, if any, the total net
short-term and long-term loss from Schedule D (Form 1041). Enter as a
positive number. If you don’t have a loss on that line (and don’t have a section
1202 exclusion), skip lines 16 through 21 and enter on line 22 the amount from
line 15 . . . . . . . . . . . . . . . . . . . . . . . . 16
17 Section 1202 exclusion. Enter as a positive number . . . . . . . . . . . . . . . . .
18 Subtract line 17 from line 16. If zero or less, enter -0- . . . . . . . . 18
19 If line 16 is a loss, enter, as a positive number, the smaller of:
• The loss on line 16; or
• $3,000 (If filing Form 1040, $1,500 when married filing separately) . . . 19
20 If line 18 is more than line 19, enter the difference. Otherwise, enter -0- . . 20
21 If line 19 is more than line 18, enter the difference. Otherwise, enter -0- . . . . . . . . . .
22 Subtract line 20 from line 15. If zero or less, enter -0- . . . . . . . . . . . . . . . .
23 NOL deduction for losses from other years. Enter as a positive number . . . . . . . . . .
24 NOL. Combine lines 1, 9, 17, and 21 through 23. If the result is less than zero, enter it here. If the
result is zero or more, you don’t have an NOL . . . . . . . . . . . . . . . . . .		 1
**1 **

For individuals, subtract your standard deduction or itemized deductions from your adjusted gross
income (AGI) and enter it here. For estates and trusts, enter taxable income increased by the total of
the charitable deduction, income distribution deduction, and exemption amount
.
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2
Nonbusiness capital losses before limitation. Enter as a positive number .
.
2
3
Nonbusiness capital gains (without regard to any section 1202 exclusion) .
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3
4
If line 2 is more than line 3, enter the difference. Otherwise, enter -0- .
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4
**5 **
If line 3 is more than line 2, enter the difference.
Otherwise, enter -0-
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5
6
Nonbusiness deductions (see instructions). Enter as a positive number
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6
**7 **
Nonbusiness income other than capital gains (see
instructions) .
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7
8
Add lines 5 and 7 .
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8
9
If line 6 is more than line 8, enter the difference. Otherwise, enter -0- .
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10
If line 8 is more than line 6, enter the difference.
Otherwise, enter -0-.But don’t enter more than line 5
10
11
Business capital losses before limitation. Enter as a positive number
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11
12
Business capital gains (without regard to any section
1202 exclusion) .
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12
13
Add lines 10 and 12
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13
14
Subtract line 13 from line 11. If zero or less, enter -0-
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14
15
Add lines 4 and 14 .
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15
16




Enter, if any, the combined net short-term and long-term capital loss from your
Schedule D (Form 1040). Estates and trusts, enter, if any, the total net
short-term and long-term loss from Schedule D (Form 1041). Enter as a
positive number. If you don’t have a loss on that line (and don’t have a section
1202 exclusion), skip lines 16 through 21 and enter on line 22 the amount from
line 15 .
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16
17
Section 1202 exclusion. Enter as a positive number .
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18
Subtract line 17 from line 16. If zero or less, enter -0-
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18
19
If line 16 is a loss, enter, as a positive number, the smaller of:
• The loss on line 16; or
• $3,000 (If filing Form 1040, $1,500 when married filing separately)
.
.
.
19
20
If line 18 is more than line 19, enter the difference. Otherwise, enter -0-
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20
21
If line 19 is more than line 18, enter the difference. Otherwise, enter -0-
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22
Subtract line 20 from line 15. If zero or less, enter -0-
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23
NOL deduction for losses from other years. Enter as a positive number
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24
NOL. Combine lines 1, 9, 17, and 21 through 23. If the result is less than zero, enter it here. If the
result is zero or more, you don’t have an NOL .
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.		 22
1 For individuals, subtract your standard deduction or itemized deductions from your adjusted gross
income (AGI) and enter it here. For estates and trusts, enter taxable income increased by the total of
the charitable deduction, income distribution deduction, and exemption amount . . . . . . .
2 Nonbusiness capital losses before limitation. Enter as a positive number . . 2
3 Nonbusiness capital gains (without regard to any section 1202 exclusion) . . 3
4 If line 2 is more than line 3, enter the difference. Otherwise, enter -0- . . . 4
5 If line 3 is more than line 2, enter the difference.
Otherwise, enter -0- . . . . . . . . . . . 5
6 Nonbusiness deductions (see instructions). Enter as a positive number . . 6
7 Nonbusiness income other than capital gains (see
instructions) . . . . . . . . . . . . . . 7
8 Add lines 5 and 7 . . . . . . . . . . . . . . . . . . . . 8
9 If line 6 is more than line 8, enter the difference. Otherwise, enter -0- . . . . . . . . . . .
10 If line 8 is more than line 6, enter the difference.
Otherwise, enter -0-. But don’t enter more than line 5 10
11 Business capital losses before limitation. Enter as a positive number . . . 11
12 Business capital gains (without regard to any section
1202 exclusion) . . . . . . . . . . . . . 12
13 Add lines 10 and 12 . . . . . . . . . . . . . . . . . . . 13
14 Subtract line 13 from line 11. If zero or less, enter -0- . . . . . . . . 14
15 Add lines 4 and 14 . . . . . . . . . . . . . . . . . . . . 15
16 Enter, if any, the combined net short-term and long-term capital loss from your
Schedule D (Form 1040). Estates and trusts, enter, if any, the total net
short-term and long-term loss from Schedule D (Form 1041). Enter as a
positive number. If you don’t have a loss on that line (and don’t have a section
1202 exclusion), skip lines 16 through 21 and enter on line 22 the amount from
line 15 . . . . . . . . . . . . . . . . . . . . . . . . 16
17 Section 1202 exclusion. Enter as a positive number . . . . . . . . . . . . . . . . .
18 Subtract line 17 from line 16. If zero or less, enter -0- . . . . . . . . 18
19 If line 16 is a loss, enter, as a positive number, the smaller of:
• The loss on line 16; or
• $3,000 (If filing Form 1040, $1,500 when married filing separately) . . . 19
20 If line 18 is more than line 19, enter the difference. Otherwise, enter -0- . . 20
21 If line 19 is more than line 18, enter the difference. Otherwise, enter -0- . . . . . . . . . .
22 Subtract line 20 from line 15. If zero or less, enter -0- . . . . . . . . . . . . . . . .
23 NOL deduction for losses from other years. Enter as a positive number . . . . . . . . . .
24 NOL. Combine lines 1, 9, 17, and 21 through 23. If the result is less than zero, enter it here. If the
result is zero or more, you don’t have an NOL . . . . . . . . . . . . . . . . . .		 1
**1 **

For individuals, subtract your standard deduction or itemized deductions from your adjusted gross
income (AGI) and enter it here. For estates and trusts, enter taxable income increased by the total of
the charitable deduction, income distribution deduction, and exemption amount
.
.
.
.
.
.
.
2
Nonbusiness capital losses before limitation. Enter as a positive number .
.
2
3
Nonbusiness capital gains (without regard to any section 1202 exclusion) .
.
3
4
If line 2 is more than line 3, enter the difference. Otherwise, enter -0- .
.
.
4
**5 **
If line 3 is more than line 2, enter the difference.
Otherwise, enter -0-
.
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5
6
Nonbusiness deductions (see instructions). Enter as a positive number
.
.
6
**7 **
Nonbusiness income other than capital gains (see
instructions) .
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7
8
Add lines 5 and 7 .
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8
9
If line 6 is more than line 8, enter the difference. Otherwise, enter -0- .
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10
If line 8 is more than line 6, enter the difference.
Otherwise, enter -0-.But don’t enter more than line 5
10
11
Business capital losses before limitation. Enter as a positive number
.
.
.
11
12
Business capital gains (without regard to any section
1202 exclusion) .
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12
13
Add lines 10 and 12
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13
14
Subtract line 13 from line 11. If zero or less, enter -0-
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14
15
Add lines 4 and 14 .
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15
16




Enter, if any, the combined net short-term and long-term capital loss from your
Schedule D (Form 1040). Estates and trusts, enter, if any, the total net
short-term and long-term loss from Schedule D (Form 1041). Enter as a
positive number. If you don’t have a loss on that line (and don’t have a section
1202 exclusion), skip lines 16 through 21 and enter on line 22 the amount from
line 15 .
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16
17
Section 1202 exclusion. Enter as a positive number .
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18
Subtract line 17 from line 16. If zero or less, enter -0-
.
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.
18
19
If line 16 is a loss, enter, as a positive number, the smaller of:
• The loss on line 16; or
• $3,000 (If filing Form 1040, $1,500 when married filing separately)
.
.
.
19
20
If line 18 is more than line 19, enter the difference. Otherwise, enter -0-
.
.
20
21
If line 19 is more than line 18, enter the difference. Otherwise, enter -0-
.
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22
Subtract line 20 from line 15. If zero or less, enter -0-
.
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23
NOL deduction for losses from other years. Enter as a positive number
.
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24
NOL. Combine lines 1, 9, 17, and 21 through 23. If the result is less than zero, enter it here. If the
result is zero or more, you don’t have an NOL .
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.		 23
1 For individuals, subtract your standard deduction or itemized deductions from your adjusted gross
income (AGI) and enter it here. For estates and trusts, enter taxable income increased by the total of
the charitable deduction, income distribution deduction, and exemption amount . . . . . . .
2 Nonbusiness capital losses before limitation. Enter as a positive number . . 2
3 Nonbusiness capital gains (without regard to any section 1202 exclusion) . . 3
4 If line 2 is more than line 3, enter the difference. Otherwise, enter -0- . . . 4
5 If line 3 is more than line 2, enter the difference.
Otherwise, enter -0- . . . . . . . . . . . 5
6 Nonbusiness deductions (see instructions). Enter as a positive number . . 6
7 Nonbusiness income other than capital gains (see
instructions) . . . . . . . . . . . . . . 7
8 Add lines 5 and 7 . . . . . . . . . . . . . . . . . . . . 8
9 If line 6 is more than line 8, enter the difference. Otherwise, enter -0- . . . . . . . . . . .
10 If line 8 is more than line 6, enter the difference.
Otherwise, enter -0-. But don’t enter more than line 5 10
11 Business capital losses before limitation. Enter as a positive number . . . 11
12 Business capital gains (without regard to any section
1202 exclusion) . . . . . . . . . . . . . 12
13 Add lines 10 and 12 . . . . . . . . . . . . . . . . . . . 13
14 Subtract line 13 from line 11. If zero or less, enter -0- . . . . . . . . 14
15 Add lines 4 and 14 . . . . . . . . . . . . . . . . . . . . 15
16 Enter, if any, the combined net short-term and long-term capital loss from your
Schedule D (Form 1040). Estates and trusts, enter, if any, the total net
short-term and long-term loss from Schedule D (Form 1041). Enter as a
positive number. If you don’t have a loss on that line (and don’t have a section
1202 exclusion), skip lines 16 through 21 and enter on line 22 the amount from
line 15 . . . . . . . . . . . . . . . . . . . . . . . . 16
17 Section 1202 exclusion. Enter as a positive number . . . . . . . . . . . . . . . . .
18 Subtract line 17 from line 16. If zero or less, enter -0- . . . . . . . . 18
19 If line 16 is a loss, enter, as a positive number, the smaller of:
• The loss on line 16; or
• $3,000 (If filing Form 1040, $1,500 when married filing separately) . . . 19
20 If line 18 is more than line 19, enter the difference. Otherwise, enter -0- . . 20
21 If line 19 is more than line 18, enter the difference. Otherwise, enter -0- . . . . . . . . . .
22 Subtract line 20 from line 15. If zero or less, enter -0- . . . . . . . . . . . . . . . .
23 NOL deduction for losses from other years. Enter as a positive number . . . . . . . . . .
24 NOL. Combine lines 1, 9, 17, and 21 through 23. If the result is less than zero, enter it here. If the
result is zero or more, you don’t have an NOL . . . . . . . . . . . . . . . . . .		 1
**1 **

For individuals, subtract your standard deduction or itemized deductions from your adjusted gross
income (AGI) and enter it here. For estates and trusts, enter taxable income increased by the total of
the charitable deduction, income distribution deduction, and exemption amount
.
.
.
.
.
.
.
2
Nonbusiness capital losses before limitation. Enter as a positive number .
.
2
3
Nonbusiness capital gains (without regard to any section 1202 exclusion) .
.
3
4
If line 2 is more than line 3, enter the difference. Otherwise, enter -0- .
.
.
4
**5 **
If line 3 is more than line 2, enter the difference.
Otherwise, enter -0-
.
.
.
.
.
.
.
.
.
.
.
5
6
Nonbusiness deductions (see instructions). Enter as a positive number
.
.
6
**7 **
Nonbusiness income other than capital gains (see
instructions) .
.
.
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.
.
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7
8
Add lines 5 and 7 .
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8
9
If line 6 is more than line 8, enter the difference. Otherwise, enter -0- .
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.
.
.
10
If line 8 is more than line 6, enter the difference.
Otherwise, enter -0-.But don’t enter more than line 5
10
11
Business capital losses before limitation. Enter as a positive number
.
.
.
11
12
Business capital gains (without regard to any section
1202 exclusion) .
.
.
.
.
.
.
.
.
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.
12
13
Add lines 10 and 12
.
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13
14
Subtract line 13 from line 11. If zero or less, enter -0-
.
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14
15
Add lines 4 and 14 .
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.
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.
.
.
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.
15
16




Enter, if any, the combined net short-term and long-term capital loss from your
Schedule D (Form 1040). Estates and trusts, enter, if any, the total net
short-term and long-term loss from Schedule D (Form 1041). Enter as a
positive number. If you don’t have a loss on that line (and don’t have a section
1202 exclusion), skip lines 16 through 21 and enter on line 22 the amount from
line 15 .
.
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16
17
Section 1202 exclusion. Enter as a positive number .
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.
18
Subtract line 17 from line 16. If zero or less, enter -0-
.
.
.
.
.
.
.
.
18
19
If line 16 is a loss, enter, as a positive number, the smaller of:
• The loss on line 16; or
• $3,000 (If filing Form 1040, $1,500 when married filing separately)
.
.
.
19
20
If line 18 is more than line 19, enter the difference. Otherwise, enter -0-
.
.
20
21
If line 19 is more than line 18, enter the difference. Otherwise, enter -0-
.
.
.
.
.
.
.
.
.
.
22
Subtract line 20 from line 15. If zero or less, enter -0-
.
.
.
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.
.
.
.
.
.
.
.
.
.
.
.
23
NOL deduction for losses from other years. Enter as a positive number
.
.
.
.
.
.
.
.
.
.
24
NOL. Combine lines 1, 9, 17, and 21 through 23. If the result is less than zero, enter it here. If the
result is zero or more, you don’t have an NOL .
.
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.		 24

Form 172 (12-2024) Page 2

Form 172 (12-2024)

Form 172 (12-2024) Page 3

Form 172 (12-2024)

Exceptions & meaning →

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