How do I enter an NOL it on my tax return?

[bwbarbour-gmail-]

The NOL started in 2019 and a portion was also used in 2020.  There is still a remainder to use for 2021.  How is is applied to TurboTax?

[tagteam · Accepted solution]

You have to enter the NOL into the program (of course, you have to calculate it first).

You should see Net Operating Loss/QBI Carryforward Loss in the program.

[AliciaP1]

You can enter your NOLs in TurboTax Online by following these steps:

1. Within your Federal return, click on Income & Expenses at the top of the screen
2. Scroll down to Other Business Situations and click Show more
3. Choose Start on the line for Net Operating Loss/QBI Carryforward Loss and progress through the interview.

[Mike0749]

When I click on "Business Income and Expenses" I get "How do you want to enter your business income" , there is no "other business situations" to scroll down to.  What am I doing wrong?

[Mike0749]

I found out that if you have a NOL from rentals (Schedule E), the NOL is entered as an "other miscellaneous expense" in the Expense Review for the rental.

[tagteam]