Question

Where on the Turbo Tax form do I enter a business loss carryover?

Forum|Forum|6 years ago
March 18, 2020
1 reply
0 views

The business is closed and this is my last $3000 that I can claim. I have not used Turbo Tax before, so it won't automatically happen. Where on the form does it go, and if it needs a Schedule C - where do I find that?

TurboTax Free Edition Online

A

AmeliesUncle

Schedule C almost never has a loss carryover, so I suspect you are mixing something up. In order to help you, can you explain EXACTLY how (and when) the loss occurred, and give as much detail as possible?

JohnB5677

First be sure the loss is correct.

To post a Net Operating Loss go to:

Business
Scroll down to final Details
Select Special Situations
I have a risk loss carryover from 2018

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

A

AmeliesUncle

@JohnB5677 wrote:
First be sure the loss is correct.
To post a Net Operating Loss go to:
Business
Scroll down to final Details
Select Special Situations
I have a risk loss carryover from 2018

NO. A Net Operating Loss is completely different than an At-Risk limitation. And a Schedule C At-Risk limitation is extremely unusual.