Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

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

cancel
Showing results for 
Search instead for 
Did you mean: 
drlindabaggett
New Member

I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

 
8 Replies
tagteam
Level 15

I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

You have to manually calculate your NOL for 2018 and then enter that NOL into the 2019 program.

 

TurboTax does not support calculating an NOL and does not carry forward an NOL (or negative AGI).

burgyathome
Level 3

I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

I have calculated the NOL. It shows up in the worksheet but not on the tax form. Please advise.

tagteam
Level 15

I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

Which version of TurboTax are you using? You need to enter the NOL into the program (see screenshot).

 

nol.png

burgyathome
Level 3

I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

My screen does not look like that. I am using Desktop version of Premier for Windows.

Critter
Level 15

I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

While inside the software and working on your return, type nol carryforward in the Search at the top of the screen (you may see a magnifying glass there).  There will be a popup that says Jump to nol carryforward.  Select that link.

tagteam
Level 15

I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

@burgyathome Do you have a section in your version that reads "Less Common Business Situations"? If so, expand that section and see if there is an NOL entry line.

Jed1
Level 1

I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

You have to manually enter in the "other Income" section as a negative number. and attach a written statement showing the calculation used to come up with the amount.

KrisD15
Employee Tax Expert

I had a NOL for tax year 2018. I thought I remembered that I would be able to carry this loss forward to tax year 2019. How do I figure this out within TT?

@burgyathome 

Desktop has a search box and if you type    nol   it will give you a jump link to the screen you need. 

 

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

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.48m
Members

2.6m
Discussions

Manage cookies
v