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Deductions & credits
Turbotax does not compute NOLs or NOL carryforwards. if you have an NOL from 2022 that gets entered on the 2023 carryover form. This assumes none of the businesses were passive activities.
if you have n NOL in 2023 there is no place to enter it so that Turbotax picks it up for 2024.
just because you have a business loss does not mean you have an NOL. other sources of income can wipe it out.
to compute NOL you need form 1045 schedule A or IRS PUB 536
‎October 29, 2024
12:55 PM