turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

gafeara
New Member

Hello, I have a net operating loss from 2015 and 2016, how do I report these on my taxes? These are from MBA tuition.

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
PatriciaV
Expert Alumni

Hello, I have a net operating loss from 2015 and 2016, how do I report these on my taxes? These are from MBA tuition.

First, if you have Net Operating Loss Carryforward amounts from 2015 that would have affected your taxable income for 2016, you need to file an amended return to include the NOL for 2016. See How to Amend (Change or Correct) a Return You Already Filed.

However, if you had an NOL from 2016, you may need to enter the amount of the net operating loss carryforward on your current return.

The easiest way to find this section of TurboTax is to use the Search box at the top right side of the TurboTax header. Click on the magnifying glass, type in "nol carryforward", hit Enter, and click on "jump to nol carryforward" to go directly to beginning of this topic.

Or go to My Account >> Tools >> Topic Search. Type in "nol carryforward", then click the topic in the list to go directly to the start of this section.

(If you are using the mobile app and don't have My Account or Tools on your screen, try logging into TurboTax from a laptop or desktop browser.)

If you used TurboTax last year, there may already be an entry for the NOL carryforward. Otherwise, enter the NOL as a positive number.

Note that a Net Operating Loss appears on Form 1040, Line 41.

If you used TurboTax last year, any net operating loss available to carry forward is shown on "Carryover Wks" Line 14a. This is a TurboTax worksheet, not an IRS form.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies