Enter Net Operating Loss (NOL) carryovers

Use the following information to enter NOLs from prior years.
  • If you carried back the net operating loss amount from any prior year to an earlier year, enter only the amount available for carryforward in the NOL Carryovers section of the
    CO
    screen in the
    Carryovers & NOL
    folder.
  • If you entered losses as negative amounts, enter the carryforwards from the year in which the losses were used.
A net operating loss of $10,000 was generated in
2023
. $3,000 of that loss was carried back to prior years and $4,500 of the remaining amount was used in
2023
. Enter
7,000
($10,000 minus $3,000) in the
2023
field and enter
-4,500
in the
2024
field.
note
  • If you're amending a return for a carryback from a future year, enter the carryback amounts in the
    Net operating loss carryback
    field on the
    Deduct
    screen in the
    Deductions
    folder, and the
    Alternative minimum tax net operating loss carryback (Force)
    field on the
    AMT
    screen in the
    Taxes
    folder.
  • The AMT amounts for carryovers on the
    CO
    screen don't default to the regular tax amounts. You need to enter the AMT amounts separately even if they're the same as the regular tax amounts.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close