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How to determine business nol carryover and why does Turbo Tax not just calculate this?!

I made a negative $4000 profit in business last year, how do I know how much of that can be carried over for the next year? Note I had income from my non business related job that exceeded the loss, not sure if this matters.
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3 Replies
RichardK
New Member

How to determine business nol carryover and why does Turbo Tax not just calculate this?!

You calculate NOL carryover by using the worksheet in IRS publication 536 Net Operating Losses (NOLs) for Individuals, States, and Trusts, click here.

If you have an NOL Turbotax should calculate it.

How to determine business nol carryover and why does Turbo Tax not just calculate this?!

Thank you but, It does not calculate it. TT asks you to input the value.

How to determine business nol carryover and why does Turbo Tax not just calculate this?!

<a rel="nofollow" target="_blank" href="https://images.turbotax.intuit.com/iqcms/support/new_lib/images/TY16/2016-Unsupported-Calcs-GEN12868...>

The calculation is not supported (per information in the link above).

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