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taxprep22442244
New Member

If I have nol carryover to 2018 is it shown on schedule a?

 
2 Replies
TaxGuyBill
Level 9

If I have nol carryover to 2018 is it shown on schedule a?

The NOL is calculated on Schedule A of Form 1045.  TurboTax does not do that calculation for you, so you need to either manually calculate it or go to a tax professional.
rjs
Level 15
Level 15

If I have nol carryover to 2018 is it shown on schedule a?

No, an NOL carryforward is not shown on Schedule A. For 2018 it goes on Schedule 1 line 21. TurboTax does not calculate the carryover amount, so it will not appear on your tax return automatically. You have to enter it yourself. Here's how to enter an NOL carryforward from 2017 in 2018 TurboTax.

  • Click the Federal Taxes tab.
  • Click Wages & Income.
  • Click "I'll choose what I work on" or "Jump to a full list."
  • On the screen "Your 2018 Income Summary," scroll down to the "Business Items" section.
  • Click the Start, Update, or Revisit button for "Business Deductions and Credits."
  • On the "Business Deductions and Credits" screen click the Start, Update, or Revisit button for "Net Operating Loss."


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