KrisD15
Expert Alumni

Business & farm

If you mean carry over to next year, you'll do that next year. If you continually use TurboTax, the Net Operating Loss should carry-over automatically. 

 

If you mean carry onto your 2020 tax Year return, below is a link that shows a couple options. 

 

“For tax years beginning January 1, 2018, or later, the TCJA has removed the two-year carryback provision, except for certain farming losses, but now allows for an indefinite carryforward period. However, the carryforwards are also now limited to 80% of each subsequent year's net income. If a business creates NOLs in more than one year, they are to be drawn down completely in the order that they were incurred before drawing down another NOL. Losses originating in tax years beginning before January 1, 2018, are still subject to the former tax rules. Any remaining losses will still expire after 20 years.”

Source

 

NOL in the TurboTax program

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