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June 7, 2023
Solved

AGI reduction by NOL carryforward

  • June 7, 2023
  • 1 reply
  • 0 views

Using sole proprietor version of TT on my PC.

Have:

AGI of 1700

NOL carryforward 5000

Shouldn't the NOL reduce the AGI so that no taxes are due?

Doing this for the first time since another software was previously used by someone else to do this return.

Been working on this for days searching forums and reading TT instructions.  Never found my issue discussed.

 

 

    Best answer by Anonymous_

    Did you enter the NOL in the program? TurboTax does not automatically carry forward an NOL.

     

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    1 reply

    June 12, 2023

    Did you enter the NOL in the program? TurboTax does not automatically carry forward an NOL.

     

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    clooneydAuthor
    June 28, 2023

    Thanks very much.  I finally did enter the NOL.