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Get your taxes done using TurboTax
Hi DianeW777,
Thank you for the information and I thought that I would be limited to ONLY being able to use this carryforward loss on business related items. I updated the appropriate information and the SW generated the 8995 form with the carryforward loss amount and $0 for any loss in 2024 since I no longer have that business. I guess the SW should automatically update this information year over year until I either re-start my business or something new. Either way, I will check that item in TT next year.
March 11, 2025
12:46 PM