Why is TurboTax saying I must carry my NOL forward?

[UCcpg]

Everywhere I look online says NOLs can be carried back up to 5 years. Also I already filed, so am I able to ammend my return to carry back the NOLs?

[KrisD15]

The TurboTax program does not carry-back NOL. 

You'll need to amend the previous year's return to claim that. 

[Edited 03-02-2021 | 09:04 PM PST]

[UCcpg]

"The CARES Act provides that NOLs incurred in 2018, 2019, and 2020 may be carried back to offset taxable income earned during the five-year period prior to the year in which the NOL was incurred."

Is the CARES Act old news? This is tax year 2020.

[KrisD15]

You are absolutely correct. 

No, TurboTax does not support that. 

You will need to amend and do that manually. 

[UCcpg]

Thank you. This makes me question their maximum refund guarantee. Because a carryback is what would guarantee a maximum refund... With so many people using turbotax, this oversight would be rather significant.