topic Turbotax Business prevents me from offsetting past losses. Why? in After you file

Turbotax Business prevents me from offsetting past losses. Why?

mgmtcons — Mon, 23 Feb 2026 12:23:39 GMT

I have a C-corp LLC with $12000 net income for 2022 and $70000 of carryover losses from 2014. Turbotax only allows me to offset $3600 this year. Why? Am I missing something here?

Re: Turbotax Business prevents me from offsetting past losses. Why?

Anonymous_ — Thu, 16 Feb 2023 18:35:08 GMT

Did you have an NOL or a capital loss carryover?

C corporations can only use capital losses to offset capital gains in the current tax year (and carry net capital losses forward for five years and back for three years).

Re: Turbotax Business prevents me from offsetting past losses. Why?

mgmtcons — Thu, 16 Feb 2023 18:50:11 GMT

Hi,

I have a NOL.

Thanks!

Re: Turbotax Business prevents me from offsetting past losses. Why?

Anonymous_ — Thu, 16 Feb 2023 19:01:27 GMT

Did you make a manual entry in the NOL carryover section of the program?

There should be an offset of the $12k if the NOL carryforward is $70k. Something has gone awry, otherwise.

Re: Turbotax Business prevents me from offsetting past losses. Why?

HopeS — Thu, 16 Feb 2023 20:00:49 GMT

If you are using TurboTax Online, you can enter the NOLs by following these steps:

Within your Federal return, click on Income & Expenses at the top of the screen
Scroll down to Other Business Situations and click Show more
Choose Start on the line for Net Operating Loss/QBI Carryforward Loss and progress through the interview.

@mgmtcons

Re: Turbotax Business prevents me from offsetting past losses. Why?

Anonymous_ — Thu, 16 Feb 2023 21:20:08 GMT

Here is the subsection in which you will enter your NOL.