topic I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT? in Get your taxes done using TurboTax

I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

drlindabaggett — Wed, 15 Jan 2020 04:44:19 GMT

Re: I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

Anonymous_ — Wed, 15 Jan 2020 17:24:42 GMT

You have to manually calculate your NOL for 2018 and then enter that NOL into the 2019 program.

TurboTax does not support calculating an NOL and does not carry forward an NOL (or negative AGI).

Re: I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

burgyathome — Sat, 25 Jan 2020 16:02:39 GMT

I have calculated the NOL. It shows up in the worksheet but not on the tax form. Please advise.

Re: I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

Anonymous_ — Sat, 25 Jan 2020 16:10:02 GMT

Which version of TurboTax are you using? You need to enter the NOL into the program (see screenshot).

Re: I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

burgyathome — Sat, 25 Jan 2020 16:44:23 GMT

My screen does not look like that. I am using Desktop version of Premier for Windows.

Re: I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

Critter — Sat, 25 Jan 2020 16:48:27 GMT

While inside the software and working on your return, type nol carryforward in the Search at the top of the screen (you may see a magnifying glass there). There will be a popup that says Jump to nol carryforward. Select that link.

Re: I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

Anonymous_ — Sat, 25 Jan 2020 16:51:19 GMT

@burgyathome Do you have a section in your version that reads "Less Common Business Situations"? If so, expand that section and see if there is an NOL entry line.

Re: I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

Jed1 — Sun, 15 Mar 2020 15:47:43 GMT

You have to manually enter in the "other Income" section as a negative number. and attach a written statement showing the calculation used to come up with the amount.

Re: I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss...

KrisD15 — Tue, 17 Mar 2020 03:29:01 GMT

@burgyathome

Desktop has a search box and if you type nol it will give you a jump link to the screen you need.