SCrawford
Level 1
02-23-2025
02:28 PM
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I'm having the same issue. This is so frustrating and I've wasted so much time. I manually calculated the Modified Taxable Income and took 80% of it. The 80% Modified Taxable income absorbed all of the first year NOL and a part of the second. When I try to override in Screen 15 to show all of the 1st year being used, it is limiting it to 100% of the Modified Taxable Income calculated by the system, which does not include the modifications for net capital loss and taxable SS benefit modifications.
Where and or how did you enter "0" NOL. I have 4 NOL years that are carrying forward to 2023.
Thank you!