Intuit TurboTax Deluxe Premier Home & Business 2016 Build 2016.r10.024 (Mac OSX) Intuit TurboTax Deluxe Premier Home & Business 2016 Build 2016.r10. Every personal TurboTax return is backed by our Audit Support Guarantee for free one-on-one audit guidance from a. So when you import the prior year tax into the following year, say 2016 into 2017:ĭoes TurboTax NOT automatically carryover this prior year negative AGI amount into the next consecutive year's 1040 as a loss in the Carryover Worksheet? I checked multiple years and there was nothing from the previous year anywhere.ĭO WE HAVE TO manually input this prior year loss amount on the "Other Income" Line 21 of the 1040 and explicitly write "prior year/2016 Net Operating Loss" = -xxxx negative number i.e. Download Free eBook:Intuit TurboTax Individual 2021 (Deluxe, Home & Business, Premier) - Free epub, mobi, pdf ebooks download, ebook torrents download. When you have a negative AGI on your Individual 1040, Does that constitute an individual's Net Operating Loss on their 1040? Where is this prior year loss stated in TurboTax or does the negative AGI in itself basically imply that there was an NOL in that year.
TLDR Long story short - So my question is:
I have searched high and low for this answer, please if anyone knows how to do this I will thank you a million times over and pass-it-forward to other needy folk who don't have access to a CPA.