DawnC
Expert Alumni

Business & farm

Partnerships and S corporations generally cannot use an NOL.  However, partners or shareholders can use their separate shares of the partnership's or S corporation's business income and business deductions to figure their individual NOLs.    You have to first determine if you have one to carry-forward.   TurboTax doesn't calculate NOL amounts, but if you determine you have one, there is a place to enter the carry-forward amounts; search for NOL in the program.    For instructions and help with figuring the amount, if any, please see Publication 536.   

 

You can carry it forward if you waive the option to carry it back, assuming you did have an NOL in 2019.   @elorac

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