Solved: Last year I was getting my daycare up and going but not yet open so no income. Under profit or loss from business in 2015 I had -2,954.00 can this be entered under NOL
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Last year I was getting my daycare up and going but not yet open so no income. Under profit or loss from business in 2015 I had -2,954.00 can this be entered under NOL

Under this years Net Operating Loss Carryover from 2015 section Or am I misunderstanding what this is?
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New Member

Last year I was getting my daycare up and going but not yet open so no income. Under profit or loss from business in 2015 I had -2,954.00 can this be entered under NOL

You are understanding correctly. The 2015 NOL carryover can be applied against your income for the current tax year (2016).

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New Member

Last year I was getting my daycare up and going but not yet open so no income. Under profit or loss from business in 2015 I had -2,954.00 can this be entered under NOL

You are understanding correctly. The 2015 NOL carryover can be applied against your income for the current tax year (2016).

View solution in original post

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