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This is first year we are married and filing jointly. one partner has carry forward net operating loss, where do i enter it and will it be deducted only from his income?

 
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This is first year we are married and filing jointly. one partner has carry forward net operating loss, where do i enter it and will it be deducted only from his income?

To enter the Net Operating Loss (NOL) follow these steps.

  1. Select Business.
  2. Scroll down to the Less Common Business Situations section.
  3. Select the Update button next to Net Operating Losses.
  4. Follow the Prompts.
And it is listed on the joint tax return line 21 so it effects both of you on the return. 

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