How does turbotax handle loss carryovers? Should it automatically apply it to the next year with a gain? All schedule c.

All schedule c.

 

A net loss on Schedule C can be used to offset all other types of income. 

 

The loss can also create an NOL if it exceeds the total of all of your other income.

 

As such, there is no carryover. If you have an NOL, you need to calculate it manually as TurboTax does not do so automatically.

 

See https://www.irs.gov/publications/p536#en_US_2023_publink1000177329

Thank you, that’s exactly what I needed to know!