Thank you very much. I know how to calculate my NOL. My question was: I need to know how I can manually change the NOL amount to the amount I am taking for 2021 on Sch 1 Line 8.
The problem I have is that TTO asks what my full carryover balance is from the prior year ($100,000), then enters that amount ($100,000) on Sch. 1 Line 8a, which results in taking a 100% deduction which is not allowed in 2021.
In an attempt to fix that, if I tell TTO that my full carryover from the prior year is only the amount of NOL I am taking in 2021 ($5,000) then the correct amount of ($5,000) ends up on Sch. 1 Line 8a, but no Carryover Worksheet gets generated showing ($5,000) taken in 2021 and ($95,000) balance being carried to 2022. In order for my return to show the proper amount of tax due in 2021, no Carryover Worksheet is generated because TTO thinks I used all I had. I believe IRS would want the carryover worksheet with the return. Is this the only way TTO can address NOLs? I could manually adjust numbers so it was all done correctly and generated a carryover worksheet with the desktop version. Thank you.
