Thanks @ThomasM125 — to clarify (as I didn't make it extra clear in my original post — apologies), this is TurboTax Business rather than an individual tax return where form 1040 would be applicable. I am filing a return for a C Corp.
So, rather than talking about business loss against current year individual income, I am discussing strictly within the business. My business had significantly more spending this year compared to its income this year. And I have definitely entered the income into TurboTax Business in the correct order — before I got to the deductions section. So I don't understand how the software could be saying that there is no NOL deduction for the business this year.
