How do I enter an NOL it on my tax return?

Forum|Forum|4 years ago
March 9, 2022
2 replies
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The NOL started in 2019 and a portion was also used in 2020. There is still a remainder to use for 2021. How is is applied to TurboTax?

TurboTax Premier Online

Best answer by Anonymous_

You have to enter the NOL into the program (of course, you have to calculate it first).

You should see Net Operating Loss/QBI Carryforward Loss in the program.

Anonymous_Answer

Employee

You have to enter the NOL into the program (of course, you have to calculate it first).

You should see Net Operating Loss/QBI Carryforward Loss in the program.

AliciaP1

You can enter your NOLs in TurboTax Online by following these steps:

Within your Federal return, click on Income & Expenses at the top of the screen
Scroll down to Other Business Situations and click Show more
Choose Start on the line for Net Operating Loss/QBI Carryforward Loss and progress through the interview.

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Mike0749

When I click on "Business Income and Expenses" I get "How do you want to enter your business income" , there is no "other business situations" to scroll down to. What am I doing wrong?

Mike0749

I found out that if you have a NOL from rentals (Schedule E), the NOL is entered as an "other miscellaneous expense" in the Expense Review for the rental.