How do you elect to carryforward the entire NOL to next year 2021?

[onestop73]

Hello All,

Need some pointers, have a client who like other businesses, has losses NOL (schedule C) this year 2020; however, wants all of it reserved (carryforward) to next year 2021. System is using it all to adjust his other income (1099-R pension); however, need to stop it from applying it this year. Is there a way to carry it forward to next year instead of this year? 

Thank you,

Is it May 17, yet?

[sjrcpa]

A net Operating loss does no arise just because you have a business loss on the 1040.

There should be an NOL computation worksheet.

The software is correct. There is no NOL to elect to carryforward.

[onestop73]

Thank you, appreciate the response.

[sjrcpa]

You're welcome.