- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How do I know if I have a NOL to be carried over into 2017?
We sold a rental house that has always been a rental in 2016. On the line in TT for sales of business property it has a loss of $13,000 listed. Then later TT is asking if I has a NOL to be carried over into 2017 (I know we don't want to carryback). Should I enter yes or no there? I don't know if that $13,000 is a carryover or does that entire amount offset any income for 2016? Our 2016 income consists of around $17,000 social security , around $3000 for rental of that house in 2016 and a couple of small capital gains on investments.
I assumed that TT would calculate that and know if there is an amount to be carried forword
Thanks
I assumed that TT would calculate that and know if there is an amount to be carried forword
Thanks
Topics:
May 31, 2019
6:46 PM