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NOL carryforward questions

2020 NOL (-2,226) shows on my 2020 104 Schedule 1 Line 3 and the same amount shows on my Federal Carryover Worksheet.  Since the business loss seems to have been applied to reduce my same year Sched 1 Additional Income (which I had)  have why would it still be listed as carryover? 

 

Now in TT 2021, how does the carryover get applied from 2020 since it does not look like it transferred to my almost completed 2021 fed taxes?  Also noticed that my 2021 NOL (-1,371) did the same thing as 2020 showing both in my Schedule 1 and the Federal Carryover Worksheet.

Thank you!

 

 

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1 Reply

NOL carryforward questions

TurboTax neither calculates nor carries forward an NOL.

 

You have to manually calculate the NOL each year and input the figure into the program.

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