topic carryover losses in Get your taxes done using TurboTax

carryover losses

Renee Ash — Fri, 31 Jan 2020 16:43:20 GMT

I'm using Turbo Tax for the first time. How/where do I record carry over losses for 2019?

Re: carryover losses

Anonymous_ — Fri, 31 Jan 2020 16:52:17 GMT

Which version of TurboTax are you using and what type of losses do you need to carry over?

Passive losses, capital losses, net operating losses?

There are clearly delineated sections for each type of loss carryover.

Re: carryover losses

Cooper-4272 — Tue, 04 Feb 2020 17:20:18 GMT

How do I carryover net operating loses from Schedule F to next year

Re: carryover losses

Cooper-4272 — Tue, 04 Feb 2020 17:21:43 GMT

I am using TurboTax Home & Business and the carryover losses would be on Schedule F, net operating costs

Re: carryover losses

Anonymous_ — Tue, 04 Feb 2020 17:31:58 GMT

You have to manually calculate your NOL (see Form 1045 link below) and then enter the NOL into TurboTax.

https://www.irs.gov/instructions/i1045

TurboTax does not support Form 1045 and does not carry over NOLs. If you are using TurboTax Home & Business, look for Less Common Business Situations under the Business tab. You will find the NOL carryforward start (update) button in that section.