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Get your taxes done using TurboTax
Hi, Thank you for your quick reply.
I do have a Schedule C, and the subtraction of the deduction of line 14 ($14,600) from my AGI on line 11 (approx negative $8K) is negative. Turbo Tax has entered a zero as taxable income for line 15. So, I believe I should have a NOL.
However, that negative number after deducting line 14 from line 11 is not showing up anywhere as a NOL. And, I'm not sure if TT will mark it somewhere on my 2024 return, or automatically remember that number and enter it as a NOL next year when I use TT for my 2025 taxes, or if I need to fill out another form and do it manually myself this year and next year.
‎February 18, 2025
2:24 PM