rebecca1965
Level 1
05-07-2020
01:01 PM
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CLIENT HAS EXCESS BUSINESS LOSS IN 2018. CARES ACT RETROACTIVELY CHANGED THE EFFECTIVE DATE OF THE LIMITATION ON EXCESS BUSINESS LOSSES TO JANUARY 1, 2021.
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George4Tacks
Level 15
05-07-2020
01:07 PM
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Start with the return as originally filed. https://proconnect.intuit.com/community/help-articles/help/amending-recreating-a-return-in-lacerte/0...
Make a copy of that return and renumber it (I use XXX-ORIG for ORIGinal)
Check the box in Screen 3 to indicate you are making it conform to CARES. Beyond that I am unsure, but it should create a new return with the offending limitation gone. You may need to do a bit more massaging. Come back if you hit a snag.
Answers are easy. Questions are hard!