☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Nov 10, 2022 7:14:50 AM

NOL calculation

So looking back at my previous returns. Is my NOL listed on line 41? Is it as simple as just taking that number and using it as my NOL or are other calculations needed?

0 1 262
1 Best answer
Level 15
Nov 10, 2022 7:23:05 AM

No it is not ... you must do the calculations yourself.   No edition of TurboTax includes Form 1045. You can download the form and its instructions from the following links on the IRS web site. You have to do the calculations and fill out the form yourself. The form includes Schedules A and B. Form 1045 is not part of your tax return. It is filed separately.

Form 1045: http://www.irs.gov/pub/irs-pdf/f1045.pdf

Instructions: http://www.irs.gov/pub/irs-pdf/i1045.pdf

1 Replies
Level 15
Nov 10, 2022 7:23:05 AM

No it is not ... you must do the calculations yourself.   No edition of TurboTax includes Form 1045. You can download the form and its instructions from the following links on the IRS web site. You have to do the calculations and fill out the form yourself. The form includes Schedules A and B. Form 1045 is not part of your tax return. It is filed separately.

Form 1045: http://www.irs.gov/pub/irs-pdf/f1045.pdf

Instructions: http://www.irs.gov/pub/irs-pdf/i1045.pdf