topic Re: NOL in Get your taxes done using TurboTax

NOL

EE42 — Mon, 09 Mar 2026 11:43:00 GMT

I keep getting an error and I have no idea why. Where can I get detailed instructions on completing this form?

DawnC — Wed, 06 Apr 2022 17:53:49 GMT

From the IRS. TurboTax does not support the NOL calculations. See page 14. You need Form 1045 and IRS Pub 536 - both are attached here in those links.

EE42 — Thu, 07 Apr 2022 19:05:55 GMT

I think that refers to individuals, not corporations. The worksheet is in the Turbo Tax Business, but I don't know how to fill it out correctly.

JamesG1 — Thu, 07 Apr 2022 20:17:04 GMT

For a tax year beginning in 2018 or later, a net operating loss (NOL) deduction for any tax year equals the lesser of:

The aggregate of the net operating loss carryovers to given year, plus the net operating loss carrybacks to given year; or
80% (or 100% for NOLs generated in tax years before 2021) of taxable income computed without regard to the allowable NOL deduction