Solved: Does TT have an online product for help w calculating & how to carry forward NOL for individuals w no business. Pub 536 is confusing. I am a disaster loss victim?
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Does TT have an online product for help w calculating & how to carry forward NOL for individuals w no business. Pub 536 is confusing. I am a disaster loss victim?

 
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Does TT have an online product for help w calculating & how to carry forward NOL for individuals w no business. Pub 536 is confusing. I am a disaster loss victim?

No. Net Operating Loss is a personal (individual) tax situation or calculation that TurboTax doesn't handle.

"Net Operating Loss: If after completing your tax return you have a negative amount on Form 1040, line 41, and you had a loss from a business activity such as those reported on Schedules C, E, F, or resulting from dispositions on Form 4797, or sustained a casualty loss, you may have a Net Operating Loss (NOL). The program does not calculate the amount of NOL to be carried back or forward to another year. To determine your NOL, if any, refer to Form 1045, Schedule A (not included with this program). You will probably also benefit by reviewing IRS Publication 536 for details about the NOL calculation."

Please feel free to review the following TurboTax FAQ for more information:

https://ttlc.intuit.com/replies/3302484

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Highlighted
Level 5

Does TT have an online product for help w calculating & how to carry forward NOL for individuals w no business. Pub 536 is confusing. I am a disaster loss victim?

No. Net Operating Loss is a personal (individual) tax situation or calculation that TurboTax doesn't handle.

"Net Operating Loss: If after completing your tax return you have a negative amount on Form 1040, line 41, and you had a loss from a business activity such as those reported on Schedules C, E, F, or resulting from dispositions on Form 4797, or sustained a casualty loss, you may have a Net Operating Loss (NOL). The program does not calculate the amount of NOL to be carried back or forward to another year. To determine your NOL, if any, refer to Form 1045, Schedule A (not included with this program). You will probably also benefit by reviewing IRS Publication 536 for details about the NOL calculation."

Please feel free to review the following TurboTax FAQ for more information:

https://ttlc.intuit.com/replies/3302484

View solution in original post

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