turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

crowmjc
Returning Member

loss carryforward error

my Schedule C business loss was used to lower my total income in 2018 but that same loss is showing up as a carryforward loss in 2019. How to I fix this and get rid of this loss that was transferred in when I imported the 2018 return's data?

 

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
JotikaT2
Employee Tax Expert

loss carryforward error

You can manually update your capital loss carryover if it is not pulling in correctly from your prior year tax return. 

  1. Go to Income & Expenses in the federal interview section 
  2. Scroll down to All Income and select Investment Income 
  3. Select Capital Loss Carryover 
  4. Select Edit to the right of Info from your 2018 tax return to make corrections 
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

loss carryforward error

my Schedule C business loss was used to lower my total income in 2018 

 

If you did not mean a capital loss carry forward  but really mean an NOL  then you need to review the NOL carry forward information from the 2018 return to see what carried forward and why.   It is possible that your NOL carried in tact with no reduction ... this happens when your ONLY income was the loss on the Sch C.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question