- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Individuals who receive 2/3 gross income from farming (Sch F) do not have to pay estimated quarterly taxes throughout the year as long as they efile by March 1st and pay their entire tax liability. To meet this deadline Form 172 - Net Operating Losses needs to be available before March 1st, otherwise the individuals that have this scenario cannot efile on time and will have to pay penalties and interest. It is my expectation as a paying Intuit software customer that all forms would be ready by their respective filing deadlines and this is not the case and making me very, very upset. I pay good money for this software and expect it to be fully functional!
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Looks like it's not gonna happen.
https://accountants.intuit.com/community/proseries-tax-discussions/discussion/form-172-nol/00/315306
The more I know the more I don’t know.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Ive seen people over in the ProSeries Facebook group say they've got the form from IRS, completed it and attached it as a PDF, then turned off Error Checking at Conversion to get the return to go through now.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I totally agree. We pay good money for the Tax preparation software and we get late forms in return. This is ludacris, we as preparers look incapable of preparing taxes on time and we have to hold these returns and not get paid until the forms are available!!!!
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
If you look at the instructions for form 172 it is only to compute your carry forward/back. says nothing about including the 172 in your tax return
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Intuit doesn't like farmers.
If you have farming clients, then either (a) I recommend using other software because Intuit frequently has important forms not ready by March 1st, or (b) tell your farming clients to not rely on the March 1st rules and make Estimated Tax payments throughout the year.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
You must be new here.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Actually on page 3 of the instructions under Deducting a Carryforward, it does state:
"Attach a Form 172 for each NOL to your form 1040 or Form 1041 if it applies" so if you are deducting a carryforward, you will need to attach the 172.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Have they gotten it accepted that way - I read somewhere someone did that and it still got rejected?
Do they just use the "other" option and just type Form 172 when attaching the form?
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I just received an email from the IRS notifications. It appears as though it's not an Intuit issue; it's due to the electronic system of the IRS. Their MeF Schema and ATS Schedule Update notification says the IRS doesn't have their end of the electronic filing for Form 172 ready and that it is not scheduled now until March 9, 2025.
The ATS date for the following new forms has been updated:
Form Family | ATS | Production |
Form 7211-Legislative | 3/9/2025 | March 2025 |
Form 172 | 3/9/2025 | March 2025 |
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
No, I'm filing electronically with the Form 172 filled out manually and attached as a pdf to the data file. I mark it as "other" in the type of attachment and in the description list it as "Form 172". They've accepted several of the returns I have filed electronically with that process.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Form 172 will not be available until March 20 so my updates message tells me. So Intuit can pay for several ads during the Superbowl but can't get this form active until right before the deadline? I think I will file w/o it and with just the election stmt like in the past.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
How can you efile from Proseries and bypass 172 prior to the new 3/20 availability date?
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Get the PDF from the IRS website, complete it and attach it to the return, uncheck the Error Checking box at Conversion and you can Efile it..
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Now that the Form 172 is available in ProSeries, they print before the 1040. I had to go into Print Options and change the print order so it didn't print first. Not sure which place is correct because it doesn't have an Attachment Sequence No on it, but I moved it closer to the end of the forms.