What is the 2017 NOL carryover if wages were $248, Sch C loss was $972, and standard deduction was $1,050? My 2017 TurboTax said I had a NOL but doesn't show the amount.

slrcpa · ‎June 3, 2019

I used TurboTax Home and Business 2017 last year. My data was: wages $248, business loss of $972, and standard deduction of $1,050. There was no other data. Please help me. TurboTax 2017 said I hade a NOL, but didn't automatically carry it forward on my TurboTax 2018 return.

MichaelL1 · ‎June 3, 2019

You have to manually compute the NOL carry forward and there are a number of adjustments that need to be made and you must also elect not to carry if back.

Your NOL if any will be small.

Go to the worksheet on page 3 of this attachment.

https://www.irs.gov/pub/irs-pdf/p536.pdf