Your Net Operating Loss (NOL) can only be carried forward if it is not able to be entirely claimed during the current tax year.
Prior to tax year 2018, a taxpayer was able to carryback the loss for two years or carryforward the loss.
Where do I make the entry in the program?
In the program, you can enter your NOL from last year by following this path:
- Federal
- Income
- Less Common Income
- Net Operating Loss (NOL) Carryover from Prior Year(s)