Turbo Tax is telling me to delete an NOL from 2019 but California Franchise Tax Board says NOLs carry forward 10 (or 20) years. Why is Turbo Tax telling me to remove the 2019 NOL?
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You can carry forward NOLs indefinitely, but you cannot skip years.
Your 2019 NOL needs to be first applied to your 2020 return, recalculated and then applied to 2021, etc.
You can carry forward NOLs indefinitely, but you cannot skip years.
Your 2019 NOL needs to be first applied to your 2020 return, recalculated and then applied to 2021, etc.
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