Business & farm

If you do not want to waive the carryback, just don't mark the box to waive it. You can carryback the NOL one of two ways:

• File an amended return for the previous year(s), and including the loss carried back; OR
• File Form 1045 - Application for Tentative Refund

For more information please see the following:

TurboTax Help Articles

• How to file a NOL carry back - TurboTax
• How to amend (change or correct) a return you already filed

IRS Reources

• Publication 536 (2019) - Net Operating Losses (NOLs) for Individuals, Estates, and Trusts  [The actual publication is currently being edited for TY2020.]
• Form 1045
• Instructions for Form 1045

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