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BCS
Level 1

Instructions on how to amend 2015 and 2016 returns in TurboTax to enter a carryback NOL from 2017

After I select "amend return" in TurboTax 2016, where do I go to enter the 2017 NOL carryback? When I choose Casualty loss, it appears I am entering a loss for 2016 rather the carryback for the loss from 2017.

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Level 20

Instructions on how to amend 2015 and 2016 returns in TurboTax to enter a carryback NOL from 2017

In the search box enter NOL carryback ...

9 Replies
Level 20

Instructions on how to amend 2015 and 2016 returns in TurboTax to enter a carryback NOL from 2017

You must first carry the loss back to 2015 from 2017 ... and then if there is any left over it will go to 2016 ... so have you completed the 2015 return yet ?
BCS
Level 1

Instructions on how to amend 2015 and 2016 returns in TurboTax to enter a carryback NOL from 2017

Thanks Critter#2. I understand the concept of applying the NOL to oldest preceding year and moving on to the next. My question is more of a TurboTax technical issue, i.e. where specifically do you go in the application to enter a NOL for the amended return? I appreciate the help and comment!
BCS
Level 1

Instructions on how to amend 2015 and 2016 returns in TurboTax to enter a carryback NOL from 2017

Thank you!
Level 3

Instructions on how to amend 2015 and 2016 returns in TurboTax to enter a carryback NOL from 2017

Have the same or very similar question I believe. Where is the software that we download needed to enter the information so we can take a carryback NOL from 2017. I finished filing my 2017 return just recently. It is clear that I have to submit a 1045 and or the 1040X for years 2015 and 2016. Please help me find the downloads that are needed to take my carryback losses.
BCS
Level 1

Instructions on how to amend 2015 and 2016 returns in TurboTax to enter a carryback NOL from 2017

Greg, As I understand it, you must have the version of the software installed for the year you are amending, e.g. have Turbotax 2015 installed to amend a 2015 return filed with Turbotax. If you have uninstalled the older versions, the only official place I have found on the Turbotax site is <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/personal-taxes/past-years-products/">https://turbotax.intuit.com/persona... is disappointing is that the prices on that page will be about twice that of what you originally paid for the software at a big box store.
Level 20

Instructions on how to amend 2015 and 2016 returns in TurboTax to enter a carryback NOL from 2017

If you uninstalled the program then you can reinstall it ... do 2015 before they remove access in October.  Also completing the NOL carryover will not be done by the program so seeking professional assistance may be wise.
Level 20

Instructions on how to amend 2015 and 2016 returns in TurboTax to enter a carryback NOL from 2017

In the search box enter NOL carryback ...

Level 4

Instructions on how to amend 2015 and 2016 returns in TurboTax to enter a carryback NOL from 2017

This thread is totally useless. 

WHAT needs to be done (conceptually) is laid out in the tax instructions (NOL Pub 536 and Form 1045 instructions). 

HOW TTAX actually supports an NOL carryback is the actual question we all are asking.  ALl TTAX seems to accept is a new loss -- wortheless in this situation.

BTW, nothing comes up in the search for NOL carryback in prior years, and the "Find" box is missing from 2017!!  :(

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Level 20

Instructions on how to amend 2015 and 2016 returns in TurboTax to enter a carryback NOL from 2017

Ok ... in the 2015 program you  do enter NOL in the search box then jump to that section and enter the 2017 NOL carryback amount on the screen that says 2014 carryforward ... this will put the amount on line 21 of the form 1040 as needed. 

 

Of course, since the 2015 tax year is closed for amended returns you really need to use the form 1045A to get the refund.  I would seek local professional assistance in this matter. 

 

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