If I have losses from previous years and use the standard deduction for the current tax year (married filing together), will my losses just carry forward to the next tax year?
02673
1 Best answer
tagteam
Level 15
Jan 18, 2021 8:18:16 AM
TurboTax will generally carry forward losses, such as excess capital losses and suspended passive losses, from the previous tax year to the current tax year.
However, TurboTax does not calculate net operating losses nor carry NOLs forward.
2 Replies
tagteam
Level 15
Jan 18, 2021 8:18:16 AM
TurboTax will generally carry forward losses, such as excess capital losses and suspended passive losses, from the previous tax year to the current tax year.
However, TurboTax does not calculate net operating losses nor carry NOLs forward.
robert qlwmqn
Returning Member
Sep 11, 2022 5:43:33 PM
My 2021 taxes are showing a carryover loss from the 2020 taxes. It should not be there. How do I remove it from the 2021 section 4.65d in miscellaneous expenses?