I'm using TurboTax Business 2024 Desktop for a new S Corp (California). My first year so lots of confusion. I was asked to mark my NOL as general, new business, or small business. I read the explanation about carryover but I don't want this in a different tax year. I want to use this 2024 loss to offset income from another S Corp that has a gain. I was expecting a K1 with loss to apply to my 1040 & 540. What's the story with this "carryover" ?
