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Deductions & credits
I think you mean you are using TurboTax Home & Business.
TO DELETE THE NOL
Select the Business tax and scroll down to
Less Common Business Situations
Scroll down in the section to
Net Operating Loss/QBI carryforward Loss START or UPDATE
Clear out any numbers, replace with 0
OR
For Desktop, Switch to FORMS (top right)
Scroll down to Carryover Wks and delete
TO ENTER THE PASSIVE LOSS CARRIED OVER
Go to the Rental Section
If the rental is still active, select EDIT for that rental
Select "Property Profile"
Third screen in asks about Carryovers, Select "I have passive activity real estate losses carried over from a prior year" and CONTINUE
Enter the amount on the following screen. If you have not been subject to AMT, enter the same in both boxes or adjust for the AMT amount if applicable
If the rental is no longer active,
Go through the rental section to get to that same screen.
Enter the property the loss was taken on for the profile to get to that screen
Select only the answer to enter the loss carryover
Select NO it was not rented all year Enter zero days rented zero days used for personal use
DO NOT ENTER INCOME NOR EXPENSES
The loss will be listed on Schedule 1 line 5
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