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Level 2
posted Feb 4, 2025 2:01:38 PM

First time filing a NOL

Hi,

 

I have a C-Corp partnership LLC, which was sold in 2023 and carried a NOL. How do I file the NOL with TurboTax Home&Business?

 

Thank you,

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1 Replies
Level 15
Feb 4, 2025 2:55:24 PM

A NOL on a C-corporation does not affect the 1040 (personal tax return).  It stays within the C-corporation.

 

If the C-corporation was sold in 2023, it does not affect your 2024 tax return.