turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
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.

Anonymous
Not applicable

How can I do a NOL (from my small business) carryover when Sch-D doesn't allow it because I made a small profit doing stock trade?

 
Connect with an expert
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.

3 Replies
MaryK4
Expert Alumni

How can I do a NOL (from my small business) carryover when Sch-D doesn't allow it because I made a small profit doing stock trade?

The Net Operating Loss is different from the Capital Loss Capital Carryover which is on Schedule D. The Newt Operating Loss for individuals applies to your overall income, if you only had a Schedule C business loss, it is netted against your other income.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Anonymous
Not applicable

How can I do a NOL (from my small business) carryover when Sch-D doesn't allow it because I made a small profit doing stock trade?

Thanks.

 

Where shall I report Net Operating loss? in turbotax?

MaryK4
Expert Alumni

How can I do a NOL (from my small business) carryover when Sch-D doesn't allow it because I made a small profit doing stock trade?

If the loss is this year, the Net Operating Loss will be calculated by TurboTax and will usually be a negative AGI for the year- but there will also be a Worksheet that will show the calculation.  If you use TurboTax next year, it will automatically transfer it to the 2020 tax return.

 

If you have a Carryover from another year to add, look under Other Tax Situations.

 

@Anonymous

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies