Article: 50288

Overview

Form 3805V is used to calculate the Net Operating Loss (NOL) and disaster loss deduction for the 2024 tax year, as well as to track the portion of each loss that may be carried forward to future tax years.

This form also assists in monitoring the expiration dates and limitations associated with unused carryover amounts.

When to Apply an NOL Carryover

If the NOL carryover deduction is not suspended, losses must be applied in the order in which they were incurred. However, there is no requirement to apply NOLs before disaster loss carryovers.

Add Form 3805V

To add the Form 3805V:

1. Go to the State taxes section.
2. Select I’d like to see the forms I’ve filled out or search for a form.
3. In the drop list, select California.
4. Select the General tab.
5. Select 3805V – Net Operating Loss (NOL) Computation Part III to add and open the form.
6. Complete the form with your applicable information.
7. Click Save to apply changes.