Let me start by saying I know TurboTax does not calculate NOL and that I am supposed to use Publication 536 for the worksheet.
This is the scenario and my questions:
For tax year 2022 I have significant NOL (non farming businesses). I know I can not carry it back so it has to be carried forward. After finishing my personal taxes Turbotax said that I might have NOL for the year and to confirm if I had NOL - what was this for?
My question is - after using the worksheet in Pub 536 to calculate NOL am I supposed to file any form with IRS telling them - "hey, I have NOL for current tax year that I will be carrying forward and using in the future"? Turbotax doesnt calculate NOL - but do they fill out any forms after I calculate and keep track of any carry forwards?
Next year - I know I use NOL on Schedule 1, but I am supposed to attach a statement showing the calculations. Will TurboTax (desktop) let me attach a statement with my return next year?
Thank you
