It only reduced current income by 80% by using NOL carryover, rather than the entire 100%.
0 Cheers
sjrcpa
Level 15

Read up on the rules. Some years have an 80% limit.


The more I know the more I don’t know.
abctax55
Level 15

Or, get up-to-date on your CPE? /S

HumanKind... Be Both

Yes I read up on the rules. But they did not agree with the intuit Proconnect automatically using the 80% NOL offset. How can I change or override this in Intuit while completing the tax return?

0 Cheers
PATAX
Level 15

@sjrcpa @abctax55 just finished one with this, and pro series professional did a good job. Also watch on the State corporate returns, Pennsylvania  has its own rules concerning nol.