Thanks KeshaH, that was helpful information. However, it did not get me where I wanted. I have $96,000 in business income for 2024. The business was started in 2023 and had $125300 in losses the first year. I wanted to carryover the loss against 2024 income. NOL was already populated with the loss but the software said I owed $28000 in federal taxes. I kept going through the business section, looking for something I missed. I discovered "Final Details", and clicked on "Special Situations". Then saw "at risk losses carrying over from 2023". It talked about carryovers on schedule C. Sure enough, I found the loss on 2023 schedule C. First tried QBI, that didn't work. Then moved the money over to the box marked Sch C. That did the trick. The carryover cancelled all my taxable income for zero Federal taxes. I have $36000 left in losses to use against 2025 income. Wow, what a relief!
