Hi
Is it a bug in turbo tax business desktop? the works sheet at the end of shows some NOL number but once hit continue on the page, the main page still shows 0. Is it a bug in the business desktop? What did I miss?
thanks
You'll need to sign in or create an account to connect with an expert.
I fixed it by removing the negative sign. Its a loss so I thought I should put -12345 etc . The tool should've told the user NOT to put the negative number .
what type of business? S-corps and partnerships do not have NOLs (except possibly for state purposes where there's a separate income tax at the entity level). for them, NOLs only exist at the individual taxpayer level.
C corp. turns out I just need to remove the '-' and leave a positive number there. Wish turbotax can provide more info to users.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Alex012
Level 1
DaveFrick
Level 2
fredcchow
New Member
rapscallion83
Level 3
alyssamccoy
New Member