MarilynG1
Employee Tax Expert

Business & farm

@murp736 There are certain situations reported under 'Special Situations' (screenshot).

 

If TurboTax filled in an amount for you there, it may have come from a K-1 entry.  If you are using the desktop product, you can drill down from the entry in the 'Carryovers to 2020 Smart Worksheet' section of Schedule C for the data source. 

 

Otherwise, you are correct that a NOL would would show under 'Less Common Business Situations'.

 

Click this link for detailed info about NOL Carryovers. 

 

 

 

 

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