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Investors & landlords
if there was a loss on the sale of the property, that would flow to form 4797 part 1
if 9b of form 4797 is a loss that flows to line 11 of the form then if line18b of the form is a loss it flows to schedule 1 line 4 any suspended passive losses don't flow to form 8582 because of the disposal. so if you have negative adjusted gross income after adding back any capital loss on line 7 of the 1040 you have a net operating loss. use form 1045 schedule A to determine the amount.
you can only carry forward an NOL that arose in 2021 or 2022. i don't think Turbotax calculates this so be forewarned in doing 2023
‎April 2, 2023
6:41 PM