TurboTax does not support the computation. Here are some details to start with.
If the net operating loss (NOL) had items that would change for alternative minimum tax (AMT) then there would be a different loss for that. Check your NOL worksheets from last year and the IRS Publication 536 for further instructions.
- Alternative tax net operating loss (ATNOL) is a consideration for computing a net operating loss when subject to alternative minimum tax (AMT).
- AMT ensures that certain taxpayers pay a minimum 'fair share' by excluding or limiting certain deductions and credits for eligible individuals and businesses.
- ATNOL will thus take into account the limited tax deductions allowed when computing net operating loss, making the net loss appear smaller for tax purposes.
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