Do not want to apply NOL for 2024. No income to offset. Turbo Tax applied it. How to remove from additional income?

[debra-tegebo1]

How do you prevent Turbo Tax from applying a NOL?

[DaveF1006]

You can remove it. To remove, you either need to be in the Premium version of Turbo Tax Online or the Home and Business section in Turbo Tax Software.

1. Navigate to the NOL Section – In TurboTax, go to the Business tab and scroll down to Less Common Business Situations. 
2. Find the NOL Carryforward Section – Look for Net Operating Loss/QBI Carryforward Loss and select START.
3. Check for Automatically Applied NOL – If TurboTax has carried forward an NOL from a previous year, it should be listed here.
4. Remove the NOL – If there is an amount listed here, you may remove it.

Be sure to record the NOL amount because you may need to reinsert  this section in your next year's return, if yoiu need toi apply it next year.