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bernha1
New Member

I have a NOL carryover from last year that I need to use this year. Is this something I can do myself using TT or would I need to submit my taxes/worksheet via the mail?

I have used a tax accountant in the past but was hoping to do it myself this year. I wasn't sure if I needed to include my NOL worksheets along with my return.

1 Best answer

Accepted Solutions
Cindy0H
New Member

I have a NOL carryover from last year that I need to use this year. Is this something I can do myself using TT or would I need to submit my taxes/worksheet via the mail?

You can enter this in TurboTax. You will need your Net Operating Loss Carryover and AMT Net Operating Loss Carryover. You will also write an explanation for the NOL. You will not need to include those worksheets in your return.

Here is how:

  • Federal
  • Income & Wages
  • Other Business Situations
  • Net Operating Loss

View solution in original post

2 Replies
Cindy0H
New Member

I have a NOL carryover from last year that I need to use this year. Is this something I can do myself using TT or would I need to submit my taxes/worksheet via the mail?

You can enter this in TurboTax. You will need your Net Operating Loss Carryover and AMT Net Operating Loss Carryover. You will also write an explanation for the NOL. You will not need to include those worksheets in your return.

Here is how:

  • Federal
  • Income & Wages
  • Other Business Situations
  • Net Operating Loss
bernha1
New Member

I have a NOL carryover from last year that I need to use this year. Is this something I can do myself using TT or would I need to submit my taxes/worksheet via the mail?

Thank you for your response. Sounds like I just need to keep the worksheets for my own records.
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