Hi all, I had a business loss in 2022 that resulted in a negative taxable income, which I believe qualifies as a Net Operating Loss (NOL) carryforward. Do I need to manually enter that NOL on the following year's return (e.g., 2023), or does FreeTaxUSA (or other tax software) automatically carry it forward? Specifically:…
I have a net operating loss from previous years. I do not see any place to enter it in my Freetaxusa tax return.
I had a negative AGI for 2022 and it would seem that with FreeTaxUSA I need to manually calculate Publication 536 (to determine what value I can carryover from 2022 into year ending 2023 and place on my 1040 Schedule 1, Line 8A). Everything seems to make sense until I get to the end of Worksheet 3, requiring the result of…
Hi, I have a net operating loss from my business for 2022. I entered it on my 2023 return, but it didn't reduce the amount due on my federal return. How do I fix this?
It looks like you're new here. Sign in or register to get started.