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Babak
Level 5
February 21, 2026
Question

Net Operating Losses fro 1120S

  • February 21, 2026
  • 1 reply
  • 5 views

I have a new client (1120S) with loss carryover from previous year. I know I have to go to Input Return > Deductions > Net Operating Losses to enter the amount carried over from last year but there is no such a section in deductions. Where can I put this amount? Thanks

1 reply

sjrcpa
sjrcpa
Level 15
February 21, 2026

S Corporations do not have NOLs.

Prior years' losses passed through to the owners on their K-1s.

But, some states may have NOLs.

The more I know the more I don’t know.
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