Yes. You use TurboTax to file your federal return if you have a net operating loss. However, you will have to calculate your net operating loss yourself and enter the amount in TurboTax. Here's what to do if you are carrying forward an NOL from 2021: Type nol in Search (magnifying glass) in the top right corner.Select Jump to nolOn the screen "2021 Net Operating Loss, enter your Net Operating Loss Carryover and AMT Net Operating Loss Carryover.If you had a net loss on your 2022 return, this post will be helpful: For Tax Year 2021: Net Operating Loss (NOL) Carryover. The procedure for 2021 and 2022 are the same.

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tubwoman

Question

Program does not support NOL carryover 80% limitation. Can I use turbo tax to file my federal return ?

Forum|Forum|3 years ago
March 26, 2023
1 reply
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TurboTax Deluxe Online

ErnieS0

Yes. You use TurboTax to file your federal return if you have a net operating loss. However, you will have to calculate your net operating loss yourself and enter the amount in TurboTax.

Here's what to do if you are carrying forward an NOL from 2021:

Type nol in Search (magnifying glass) in the top right corner.
Select Jump to nol
On the screen "2021 Net Operating Loss, enter your Net Operating Loss Carryover and AMT Net Operating Loss Carryover.

If you had a net loss on your 2022 return, this post will be helpful: For Tax Year 2021: Net Operating Loss (NOL) Carryover. The procedure for 2021 and 2022 are the same.

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