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Business & farm
The rules changed last year with the CARES act.
https://www.taxpolicycenter.org/taxvox/who-benefits-cares-act-tax-cuts
Besides, all I'm looking for is the option to carryback. It was there in 2019. Currently Turbo Tax doesn't even tell you that it generates a forward foregoing your right to carryback if you select 'yes, I an NOL' for 2020. They need to add back in the next screen to ask if you'd like to carry it back or forward and generate the appropriate election form to include with our tax return so we can e-file.
March 9, 2021
12:27 PM