How can I claim a net loss from last year on my schedule C this year?

pierrezegreat · ‎June 5, 2019

I had a net loss on my business last year. How do I claim this loss on my taxes this year. Is there a carryover option?

PaulaM · ‎June 5, 2019

Select the Business tab. Scroll to the bottom of the page, Let's gather your business info, to the Less Common Business Situations section.

Be sure to enter the NOL as a positive amount. See attachment.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

PaulaM · ‎June 5, 2019

Select the Business tab. Scroll to the bottom of the page, Let's gather your business info, to the Less Common Business Situations section.

Be sure to enter the NOL as a positive amount. See attachment.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Thank you for helping us improve the TurboTax Community!