How do I enter net operating loss (NOL) carryover in turbotax home and business version 2018?

[peterv]

I cannot find how to enter the net operating loss (NOL) carryover anywhere on tubotax home and business version 2018, but last year I was able to easily enter net operating loss carryover in home and business version 2017?  Why did the net operating loss entry disappear in the current version?

[KrisD · Accepted solution]

1. Type    nol carryforward    into the search box at the right-hand top of the screen.  
2. Click the   "Jump to nol carryforward"   link

Please enter the carry-over as a positive number. 

[ajthrock]

OK, the original answer works in 2016 and newer, but not in older versions.  If you go to the newer version and enter a number in the proferred carryover box, you can see what it actually changes.  The input goes onto the "Carryover Wks" line 14 a & b = Net Operating Loss available to carry forward.

[rgrcpa]

I don't have a jump to  nol as a link.

[ThomasM125]

To find the "jump to" link, you type in "net operating loss" in the search box that you will see in the upper left hand corner of your TurboTax screen.

[Ysg]

I made a mistake. How do I delete this post?

[ybanag]

Where do I get the dollar amount of my NOL from 2018? 
Why does it not auto-fill to my 2019 Turbo Tax from transferred info?

[Critter-3]

The TT program doesn't handle the NOL carryover calculations.    

No edition of TurboTax includes Form 1045. You can download the form and its instructions from the following links on the IRS web site. You have to do the calculations and fill out the form yourself. The form includes Schedules A and B. Form 1045 is not part of your tax return. It is filed separately.

Form 1045: http://www.irs.gov/pub/irs-pdf/f1045.pdf

Instructions: http://www.irs.gov/pub/irs-pdf/i1045.pdf

[pa3]

I am having problem with NOL forms from many years and requested TT for help.

i bought most expensive TT, and even professional. paid money buy not able to do it right.

i even bought audit insurance for many years.

i was audited for NOL and their audit insurance company refused to help and represent me and they took my audit insurance money also.

I called Tubo tax, filed complaint couple of times and no help came.

but i am stuck with TT software from whole life.

Some how i think turbo tax does not want NOL customers and would prefer them to go to professional accountants.

Any way there audit insurance is not reliable and dependable.

My NOL audit case is still open due to covid. Audit insurance company and us are looking for long court battle and audit has very big numbers.

Let me if any NOL automatic software is in the market so we can change, even though i have life time relationship with TT.

[Critter-3]

There is NO  DIY   that can/will tackle an NOL as this is beyond the scope of the average DIY filer so using a professional (not a "rent a pro" thru the TT system who "helps" you file your own return and doesn't sign your return) is your only real option.   Even the professional programs doesn't complete the NOL automatically, it also requires some human assistance.  

[mikeasmel]

I just need to add in a Non Operating Loss carryforward on the 2020 return along with a simple note in a scheudule.  Which version of Turbo Tax can i use? The rest of the tax return is very simple and there is no tax due. Also, it is for joint senior citizens that are 90 years old but I don't think that i can use the 1040SR due to the need to enter a NOL. 

[DaveF1006]

If you are entering NOL carryfoward from a previous year, please do the following.

1. Log into Turbo Tax
2. Type    NOL    into the search box at the right-hand top of the screen.  
3. Click the   "Jump to nol" link

[mikeasmel]

Can I use the free TurboTax or do I have to use a paid version? 

[JamesG1]

It is doubtful that a free version of any tax software will report NOL carryovers.

In TurboTax Home & Business, follow these steps:

• Across the top of the screen, click on Business.
• Click Continue.
• Click on I'll choose what I want to work on.
• Scroll down to Less Common Business Situations.
• Click Start / Update to the right of Net Operating Loss / QBI Carryforward Loss.

[datababe]

I'm using TT 2020 and I can't find a "search" box anywhere. When I entered NOL on the forms it took me to a carryback - but there is no option for a carry forward. Can you help me find it?