Bill Young, a single taxpayer, reported the following information on his 2015 Form 1040:
Salary from part-time job ……………………… $ 16,600
Interest on savings account ……………………. 400
Net loss from sole proprietorship ………………. (22,100)
Alimony received ………………………………. 3,600
AGI …………………………………………….. $ (1,500)
Standard deduction …………………………….. (6,300)
Exemption ………………………………………. (4,000)
Taxable income …………………………………..$ (11,800)
Does Bill have a net operating loss (NOL) that he can carry back or forward as a deduction in another taxable year?