There's an 80% rule.

The NOL is $23,400 in Column A.

Column B of NOL Wks shows Deduction Allowed in current year of $19200.  That's above 82.1% of column A.

What am I missing?

Thanks, Christopher

I came up with a total of $43.99 after doing my math so obviously you and the software are much better at math than I am. 😜

I had this exact situatiion where C Corp had pretty large NOL yet still owed tax on 2022 return even though 2022 profit was less than the NOL.  seems kind of an odd rule but saw it first hand. 

Pre-2018 NOL you can take 100%.  Anything from 2018 and later is the 80% rules that others have mentioned.  I forgot that 2018 was the year of the change for a return I was working on.