carry over NOL and Capital gains/losses

[jkgvharden]

I have used Turbotax for years. I love it. How do I calculate and report any leftover capital losses from the last few years, and how do I calculate and report the leftover NOL from last year

[dev145]

If you are using TurboTax to prepare you taxes year after year, it should bring carry over capital losses automatically and you do not need to do anything. But if you skip a year, you might have to enter them manually. 

You can find that section under Wages and Income -> Investment and savings. 

For NOL, do not support the NOL calculation . You have to calculate NOL yourself using form 172 and the related worksheets in Publication 536 to calculate the exact amount of the NOL. Here is a IRS link.

https://www.irs.gov/publications/p536

Once you have the NOL amount, you can enter amount on next year's return under "Other Business Situations" on Wages and Income section. 

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