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Question

NOL carryforward

Forum|Forum|4 years ago
February 21, 2022
1 reply
0 views

I am filing tax year 2021 now with TT home and business. I have a NOL of 79,000 from 2019/2020. I know that carrying it forward continues for several tax years until it is all used up so my question is do I put the total 79,000 as my NOL or only the amount I am using this year?

Employee

Enter your NOL in the Less Common Business Situations section (click Start to the right of Net Operating Loss/QBI Carryforward Loss).

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JPSUNAuthor

Yes, thank you, I know where to enter it. I am asking do I enter the total 79,000 as that is what has been carried forward from the two previous years or can I enter only the amount I am going to use this year. I cannot seem to find any information on this.

Employee

Enter your total NOL ($79,000).