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Deductions & credits
The last I heard, TurboTax does not have it. But it is possible (but unlikely) that has changed.
Usually that election is due by the due date of the original return. The 2018 and early 2019 laws said it was no longer carried back, but a new law (due to COVID) made the carryback allowable retroactive to 2018 and 2019.
So the last I heard, TurboTax only prompts you for the carryback if you have a 2020 NOL, and does not have an option for 2018 or 2019. If that is the case, that would mean you would need to MANUALLY create an election and MAIL it with your tax return. And hopefully you filed an extension for 2020, otherwise it might not be allowable to file the carryback (I would need to double check those rules).
‎July 17, 2021
7:33 AM