1422772
You'll need to sign in or create an account to connect with an expert.
The Net Operating Loss is different from the Capital Loss Capital Carryover which is on Schedule D. The Newt Operating Loss for individuals applies to your overall income, if you only had a Schedule C business loss, it is netted against your other income.
Thanks.
Where shall I report Net Operating loss? in turbotax?
If the loss is this year, the Net Operating Loss will be calculated by TurboTax and will usually be a negative AGI for the year- but there will also be a Worksheet that will show the calculation. If you use TurboTax next year, it will automatically transfer it to the 2020 tax return.
If you have a Carryover from another year to add, look under Other Tax Situations.
@Anonymous
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
starkyfubbs
Level 4
cmallari
New Member
joe-shrewsbury
New Member
35347504
New Member
ningji
Level 2