I have a $33,000 loss from the sale of mutual funds for 2022. On the 1041 trust return TurboTax entered taxable income of -3,100. I understand that losses are limited to $3,000/year and the extra $100 is because this is a complex trust. Can I apply remaining losses to future years (limited to $3,000/year)? When I prepare the 2023 1041 return next year will TurboTax show the remaining NOL available? During the review the following appears: "If you wish to carry the NOL forward, instead of carrying it back, prepare the IRC 172(b)(3), Election to Forego the Carryback Period for Net Operating Loss statement (available in other forms you may need)"
What form has this election? I can't find it. Thanks in advance.
