How does carry over from 2018 ($686) affect filing 2018 taxes?

mossycreek47 · ‎January 21, 2020

My 2018 Form 500-NOL shows Net Operating Loss of $686. I don't understand how this loss is derived. Will it affect my GA return?

MarilynG1 · ‎January 21, 2020

Your Net Operating Loss (NOL) will reduce your taxable income. However, deducting your loss of $686 will probably not affect either your Federal or Georgia returns much.

To enter your NOL, type NOL in the Search window, then 'Jump to NOL'.

Click this link for more info on NOL.

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

View solution in original post

MarilynG1 · ‎January 21, 2020

Your Net Operating Loss (NOL) will reduce your taxable income. However, deducting your loss of $686 will probably not affect either your Federal or Georgia returns much.

To enter your NOL, type NOL in the Search window, then 'Jump to NOL'.

Click this link for more info on NOL.

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

How does carry over from 2018 ($686) affect filing 2018 taxes?