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February 4, 2025
Question

First time filing a NOL

  • February 4, 2025
  • 1 reply
  • 0 views

Hi,

 

I have a C-Corp partnership LLC, which was sold in 2023 and carried a NOL. How do I file the NOL with TurboTax Home&Business?

 

Thank you,

    1 reply

    February 4, 2025

    A NOL on a C-corporation does not affect the 1040 (personal tax return).  It stays within the C-corporation.

     

    If the C-corporation was sold in 2023, it does not affect your 2024 tax return.