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What amount to enter for NOL

Where from my 2018 1040 will I get the amount for my 2018 NOL to enter on my 2019 1040 ?

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5 Replies

What amount to enter for NOL

You need to calculate your NOL.

 

See https://www.irs.gov/publications/p536#en_US_2019_publink1000177330

 

TurboTax does not support calculating an NOL.

What amount to enter for NOL

I already calculated my NOL  for 2017 and am just carrying forward the balance through the years.
I used my Adjusted Gross Income (negative amount)  last time, just wanted to make sure it is correct.

What amount to enter for NOL

This is still not clear. Did you actually calculate your NOL or are you only using your AGI?

 

The amount of your negative AGI is not necessarily your NOL.

What amount to enter for NOL

2017 - had a bad debt (credit to a client) /business loss and entered as Other Expense on Sched C.  
2018 - negative AGI carryforwarded to Schedule 1 ,line 21 Other Income with attached Statement explaining it is NOL.  Now, I do not remember if amount was autofilled by TT  or I filled it.
2019 - trying to figure if TT Premier will auto-populate or I do?

What amount to enter for NOL


@ybanag wrote:

2019 - trying to figure if TT Premier will auto-populate or I do?


You enter the NOL manually into TurboTax for the 2019 tax year.

 

TurboTax does not support the transfer of an NOL (or negative AGI from a previous year) from one tax year to the next.

 

Hopefully, you are entering the figure from the worksheet at the link posted in the message above.

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