kgalland
Level 4
02-06-2025
04:08 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
There is no worksheet in the 1120 Proseries Professional software showing how the NOL deduction is calculated. Taxpayer has no contribution deduction but the calculation is more than 80% of taxable income. I'm wondering if I need to override on the form?
Labels
bhwagcpa
Level 1
2 weeks ago
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
My NOL calculation was the Taxable Income on Ln 28 - Special Ded on 29b * 80%
