NOL Carryforward

[PapaOpah]

I have a NOL from 2020 to carry forward. LLC, 2 member-husband and wife, no other income outside of the generated K1 from LLC. TurboTax is NOT importing the information from last year for what ever reasons (I'm pretty disheartened/disgusted) Where do I enter the carry forward loss from last year and what form(s) do I need. Please help!

[Anonymous_]

You have to compute an NOL manually and then enter that figure into the program.

[PapaOpah]

Problem is that window/option is not available in turbo Tax Deluxe. I am using Turbo Tax Business for the business /LLC tax return and Deluxe for my personal taxes. What form and where do I enter it in Turbo Tax Deluxe?

And where do I compute the loss? It is clearly listed on last years K1 as a negative net earnings.

[Anonymous_]

The worksheet to compute an NOL can be found at the link below.

https://www.irs.gov/publications/p536#en_US_2021_publink1000177329

[Anonymous_]

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@PapaOpah wrote:

 What form and where do I enter it in Turbo Tax Deluxe?

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Enter Forms Mode and open the Other Income Statement.

There is a line to enter an NOL directly on that worksheet.