Unable to enter NOL carry forward amount from 2024?

[sundarnri]

I had the same issue during 2024 where the carry forward NOL was not copied and had to enter manually, but the option to enter is not available in the desk top version How to? Please help

[MelindaS1]

It's definitely available in the desktop software, it's just a matter of where. Which edition of the home software are you using? In Home and Business edition, I found the entry here, under Business > Less Common Business Situations > Net Operating Loss/QBI Carryforward Loss, Start

For the others, you would select Federal > Wages & Income > and then follow the same section headings you previously used in TurboTax Online:

[sundarnri]

I do not have the option as given in the reply.  Appreciate your help to enter NOL carried forward from previous year.

I faced the same challenge with the 2024 Desktop and was helped by Turbotax Support.

[M-MTax]

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@sundarnri wrote:

I do not have the option as given in the reply.

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You don't have the option because it's not available in the program you're using (i.e., you're not using Home & Business).

You can enter your NOL, though, by going into Forms Mode. In Forms Mode, look for the Federal Carryover Worksheet (it's something like "Carryover Wks" in the list of forms) and scroll down to Line 14a. Enter your NOL carryover on that line.

[sundarnri]

I entered the NOL values in line 14A under Carryover Wks as recommended.  But the federal due is not changing and the value entered shows error.  It also says NOL overridden.  Can anyone come in person where I can share the screen with the error.

Thanks

[M-MTax]

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@sundarnri wrote:

It also says NOL overridden.  Can anyone come in person where I can share the screen with the error.

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How did you enter the value? I'm thinking that you entered a negative number. Don't do that! Enter the NOL as a positive number on Line 14a. 

Also, no one here can "screen share" with you. In order to do that you would probably have to call customer service.

I WILL note that this whole thing would be a lot easier on YOU and everyone else if you just upgraded to Home & Business.

[sundarnri]

Hello

Thanks for your earlier response.  I did upgrade to Home and Business and was able to enter the NOL as positive amount, carried forward from prior year.

My federal tax was $651, which is not showing $1285.  There is something really going wrong, and should I delete the Tax file and recreate.  This is really painful.

Thanks

[M-MTax]

I would recommend that but first save your current tax file, don't delete it, and make sure the old one is not overwritten by the new one you're going to create (in case nothing changes).

So start a new return but don't delete the old one and see if anything changes. There could be several reasons why your federal tax increased even after entering the NOL. 

[sundarnri]

I created a new tax file without deleting the old version.

All worked good with the new file and prior year NOL.

Thanks

Sundar