Turbo tax does not seem to have California form 3805V to carryover a NOL. On form 540 Section B, Additional income, it is minusing out my federal NOL without any alert, but not letting me fill out the form referenced in line9 b2 for California NOL deduction FTB 3805V.
I have seen other posts about this issue dated several years back and I would hope TT has fixed it?
2023 Turbotax Deluxe version still does not have form FTB 3805V
Not sure if it's included in the higher versions.
I've got the Home and Business and it's not there. Frustrating!
Any workaround?
Can we still efile with CA FTB? or will it be questioned/rejected due to missing FTB 3805V?
or get the form from CA FTB and fill in manually and file by mail?
You are correct, California Form 3805V isn't supported by TurboTax. I have not seen any reports as to whether California will accept the return without the form. Yes, you could download it from the FTB and file by mail with your printed TurboTax return.
See this TurboTax forms availability tool.
Use the following steps to enter your Federal NOL Carryover from last year in TurboTax Online:
Note, if you did your taxes last year with TurboTax and generated an NOL carryover, then in many cases, TurboTax will carry over the NOL automatically to the next year. Check for this in case it appears that your NOL carryover is being double-entered in your 2023 tax return.
See IRS Publication 536 for more information about NOLs.
TurboTax will determine your current year Federal Net Operating Loss (NOL) and this amount will flow automatically to the Federal Carryover Worksheet. HOWEVER, THE PROGRAM DOES NOT SUPPORT THE CALCULATION OF NOL CARRYOVERS. THIS INCLUDES THE 80% LIMITATION PURSUANT TO THE TAX CUTS AND JOBS ACT.
2 years ago I filed without it, not even knowing about it since TurboTax didn't warn me that it was missing.
Last year I filled it out and then printed my California return and mailed it in. I figured it's better to have the form on file to track the NOL.
I was hoping it would be available this year.