judah-fogel
Level 1
12-07-2019
10:55 AM
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THIS IS ON A PERSONAL INCOME TAX RETURN
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Accountant-Man
Level 13
12-07-2019
10:55 AM
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Why would a charity carryover be included in the NOL?
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abctax55
Level 15
12-07-2019
10:56 AM
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Accountant-Man
Level 13
12-07-2019
10:56 AM
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I am not so sure that "contribution carryoverloss" is charity.
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abctax55
Level 15
12-07-2019
10:56 AM
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I'm not sure 'bout much of anything on the OP's question.
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sjrcpa
Level 15
12-07-2019
10:56 AM
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There is some provision about charitable contribution carryovers being converted/added to NOL carryovers. I would have to look it up. Since Lacerte got its act together 15 or 20 years ago re NOL computations I trust what it does now (with verification).
The more I know the more I don’t know.
abctax55
Level 15
12-07-2019
10:56 AM
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Converted from different software?
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George4Tacks
Level 15
12-07-2019
10:56 AM
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I think this is one of the many reasons NOT TO proforma with the first release (or even the 3rd, 4th or even nth).
https://accountants-community.intuit.com/articles/1861729-converting-charitable-contribution-carryov... applies to corporation.
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