I believe I have a net operating loss (NOL) for 2018. How do I calculate this in Turbotax using the Self employed version to use as a deduction in future years?
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I believe I have a net operating loss (NOL) for 2018. How do I calculate this in Turbotax using the Self employed version to use as a deduction in future years?
I believe I have a net operating loss (NOL) for 2018. How do I calculate this in Turbotax using the Self employed version to use as a deduction in future years?
TurboTax does not support the calculation of an NOL. You can follow the instructions at the IRS site below.
Note that the Tax Cuts and Jobs Act (TCJA) eliminated the option for most taxpayers to carry back a net operating loss (NOL); you can only carry it forward.
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