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 theCOscreen in theCarryovers & NOLfolder.
- 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 field and enter field.
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
-4,500
in the 2024
note
- If you're amending a return for a carryback from a future year, enter the carryback amounts in theNet operating loss carrybackfield on theDeductscreen in theDeductionsfolder, and theAlternative minimum tax net operating loss carryback (Force)field on theAMTscreen in theTaxesfolder.
- The AMT amounts for carryovers on theCOscreen 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.
