From a previous thread I understand that TurboTax does not calculate my 2018 NOL carry forward for my 2019 return and I will need to do that using the worksheet from the IRS and then TurboTax will allow me to enter the NOL. However, does Turbotax know to apply the 80% income limit for the NOL deduction which was part of the tax law act in 2018. As an example, if my NOL carry forward is $150,000 and that is what I enter into TurboTax but my income is $100,000, TurboTax can only use $80,000 (80% of my income) as a deduction.
