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New Member
posted May 10, 2025 9:56:44 AM

how can see if a NOL has been captured on a tax form in TurboTax in the year of the loss

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1 Replies
Level 15
May 10, 2025 10:17:31 AM

in the year of the loss the activity would show the loss on whatever schedule or form it was entered. if it's a passive loss then the loss carries to form 8582 to determine the allowable amount to carry to that form or schedule.  Turbotax does not compute the NOL carryforward.  when doing the following year, you would need to complete IRS form 172 which for 2024 Turbotax did not support