- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Why doesn't Lacerte calculate the NOL utilization anymore? Is there some reason they can't do this calculation within the software? Just another thing we as preparers have to worry about when we are paying big money for our expensive software!
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Do you have any issues when trying these steps?
https://accountants.intuit.com/support/en-us/help-article/corporation/common-questions-corporate-net...
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
The question is 'why' Lacerte can't do the actual math of limiting the NOL deduction to 80% of income.
It is a similar computation of the SEHI deduction; when there are income amounts that are partially taxable based on income (example = SS benefits) the computation becomes 'circular'.
Lacerte IS able to do it for SEHI, altho a diagnostic is generated.
It seems Lacerte, for what it costs, could do the programing for the NOL/80% calculation also....
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Great mind reading Anna.
I understood, sort of, why the software didn't apply the limitation the first year it existed. But after all these years I don't understand.
The more I know the more I don’t know.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Thanks Susan...
I was just working on one with the issue so it was fresh in my mind.
I understand the 'math' issue, but if it can be done for SEHI why not for NOLs with the same diagnostic to verify.