On form 1045 reporting a net operating loss,.After the carry back 2yrs,if nol is more than taxable income?

Question

What if the year you carry your NOL to on form 1045, the nol is more than your taxable income?

Answer 1

Go back to the 1045.  Do schedule B.  This will tell you if you have any NOL left to carry to the 2nd year.

BTW, the 3 year rule depends on the type of loss.

Answer 2

If the NOL zeros your return from 2 years ago, the excess goes to the return from one year ago, and the further excess is carried forward.

(I thought  there was a temporary extension of the 2 year carryback  to 3 years; check the online form 1045 instructions, rather than the paper form, for details.)