NOL carryforward

Forum|Forum|4 years ago
February 21, 2022
1 reply
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I am filing tax year 2021 now with TT home and business. I have a NOL of 79,000 from 2019/2020. I know that carrying it forward continues for several tax years until it is all used up so my question is do I put the total 79,000 as my NOL or only the amount I am using this year?

Anonymous_

Level 15

Enter your NOL in the Less Common Business Situations section (click Start to the right of Net Operating Loss/QBI Carryforward Loss).

AraV

Level 2

Hi. I need help finding where is the tab to enter NOL Carryforward. Are you able to blow a hind for me?

AraV

Level 2

@AraV wrote:

Hi. I need help finding where is the tab to enter NOL Carryforward. Are you able to blow a hind for me?

Here is a screenshot from the Home & Business product. Which version of TurboTax are you using?

Thank you for getting back to me. I am using the Business Desktop version. I searched for the Less Common Business Situation many times but couldn't find it.

What would be happening?