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

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?

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1 Best answer

Expert Alumni

Jun 5, 2019 10:57:15 PM

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.

Expert Alumni

Jun 5, 2019 10:57:15 PM

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.