An NOL, as well as any carryover or carryback is not calculated by TurboTax. You must use the worksheets in IRS Publication 536 to determine your actual carryover/carryback and your current year NOL.
- IRS Publication 536 - References to nonbusiness means everything that is not associated with your business.
That being said, a NOL is created with your complete return, all income from all sources. This is why our awesome Tax Expert @ThomasM125 said for you to look at Line 11, Form 1040.
Once you have your figures, you can follow the rules for amending your tax returns if applicable.
@TxCatLady1
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