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how can I see that a loss on 2021 Schedule C will be carried forward to 2022

freddielong
Level 2

I have a loss on Schedule C for 2021.  I need to be assured that the 2021 Loss will be carried forward to 2022

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Just-Lisa-Now-
Level 15
Level 15
Sch C losses don't carry forward, Net Operating Losses will carryforward if you elect to do so.

If you have an NOL, you should see it on Sch 1, as well as the Federal Carryover worksheet.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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2 Comments 2
abctax55
Level 15

Does this Sch C generate an over-all loss for the 'entire' return?  If so, you *may* have a net operating loss.    A Sch C loss all by its lonesome doesn't *carry over* unless (maybe?) you are referring to QBI?

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Just-Lisa-Now-
Level 15
Level 15
Sch C losses don't carry forward, Net Operating Losses will carryforward if you elect to do so.

If you have an NOL, you should see it on Sch 1, as well as the Federal Carryover worksheet.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪