I have NOL in 2019 and AMT NOL in 2019 carrying forward to 2020 which I also have NOL. Not enough income in 2020 to offset. Is my understanding correct that you can elect to carry forward to future years indefintely. If so, how do you go about it? NOL.

[AmeliesUncle · Accepted solution]

First, let's back up a bit.  For the 2019 NOL, did you make the election to "waive the carryback", either on the 2019 tax return or with the 2020 tax return?  If not, then you need to either (a) make that election now, or (b) carry the NOL back to 2014.

If the 2019 carryforward is being carried forward to 2020, there is no need to make another election to carry it to 2021.  It would be required, so no further elections are needed.

TurboTax does not calculate NOLs, does not include the required computation statements, and is overall very unfriendly for NOLs.  You may consider having a tax professional do your tax returns.