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New Member
posted Mar 9, 2022 2:00:26 PM

How do I enter an NOL it on my tax return?

The NOL started in 2019 and a portion was also used in 2020.  There is still a remainder to use for 2021.  How is is applied to TurboTax?

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1 Best answer
Level 15
Mar 9, 2022 2:27:34 PM

You have to enter the NOL into the program (of course, you have to calculate it first).

 

You should see Net Operating Loss/QBI Carryforward Loss in the program.

7 Replies
Level 15
Mar 9, 2022 2:27:34 PM

You have to enter the NOL into the program (of course, you have to calculate it first).

 

You should see Net Operating Loss/QBI Carryforward Loss in the program.

Expert Alumni
Mar 9, 2022 2:34:37 PM

You can enter your NOLs in TurboTax Online by following these steps:

 

  1. Within your Federal return, click on Income & Expenses at the top of the screen
  2. Scroll down to Other Business Situations and click Show more
  3. Choose Start on the line for Net Operating Loss/QBI Carryforward Loss and progress through the interview.

Level 1
Apr 5, 2023 1:24:22 PM

When I click on "Business Income and Expenses" I get "How do you want to enter your business income" , there is no "other business situations" to scroll down to.  What am I doing wrong?

Level 1
Apr 5, 2023 1:42:04 PM

I found out that if you have a NOL from rentals (Schedule E), the NOL is entered as an "other miscellaneous expense" in the Expense Review for the rental.

Level 15
Apr 5, 2023 1:45:25 PM

New Member
Jan 23, 2025 7:34:25 AM

I am married filing jointly. The NOL carryforward is just for my wife's income. How can I do that?

Thank you!

Expert Alumni
Jan 23, 2025 8:45:19 AM

You can't.  If you file jointly then everything on the tax return is joint - including an NOL carryforward.  

 

In order to separate the NOL you would have to file married filing separately.

 

@George B4