NOL carryovers

[chasdroopY]

My 2020 TurboTax printout shows on line 29 of Federal Carryover Worksheet with a-$56343 carryover.

I'm doing 2021 on a different computer so 2021 version isn't aware of that. Do I just enter it in the "Less Common" category, NOL/QBI Carryforward Loss ?

It can't be that simple.

Thanks

Chas

[Mike9241]

on a timely filed 2020 return did you include a waiver of the NOL carryback? if not timely filed or no waiver, then by law you must carryback any NOL to 2015, then any used forward.  there is no provision in the tax laws to allow a late election.  what's as bad is that Turbotax can no longer do 2015 returns. 

[chasdroopY]

No waiver filed unless Turbo Tax had me do it.

Thanks so much for the good information; I can now proceed.

Chas