Our S-Corp K-1 for 2017 was -$135,000. Filed our 2017 personal returns online with Turbo Tax. Where is the unused portion of the loss carried over to 2018 listed?

theledouxfamily — Mon, 21 Oct 2019 02:09:45 GMT

Since we could not file before the 10-15-19 deadline, Turbotax online is no longer available. We uploaded the online 2017 info to the 2018 desktop return.
Since 2017 only used about 1/2 of the credit, is the remaining unused portion of the credit listed on the 2017 1040?

Re: Our S-Corp K-1 for 2017 was -$135,000. Filed our 2017 personal returns online with Turbo Tax. Where is the unused portion of the loss carried over to 2018 listed?

Anonymous_ — Mon, 21 Oct 2019 02:21:58 GMT

@theledouxfamily wrote:
Since 2017 only used about 1/2 of the credit, is the remaining unused portion of the credit listed on the 2017 1040?

By "credit" do you mean NOL (net operating loss)? You have to figure an NOL separately; TurboTax does not figure NOLs and it is entirely possible that any loss did not get transferred into your 2018 return.

Further, for tax years 2017 and earlier, you would needed to make an election to forego the 2-year carryback period for NOLs (i.e., to carry the NOL forward).

In the event you are referring to something other than an NOL, please post additional information here.

topic Our S-Corp K-1 for 2017 was -$135,000. Filed our 2017 personal returns online with Turbo Tax. Where is the unused portion of the loss carried over to 2018 listed? in Get your taxes done using TurboTax

Our S-Corp K-1 for 2017 was -$135,000. Filed our 2017 personal returns online with Turbo Tax. Where is the unused portion of the loss carried over to 2018 listed?

Re: Our S-Corp K-1 for 2017 was -$135,000. Filed our 2017 personal returns online with Turbo Tax. Where is the unused portion of the loss carried over to 2018 listed?