DavidCPA
Level 2
10-07-2020
04:14 PM
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Thank you! There are two critical diagnostics that are being generated:
1 - Entries on the NOL detail screen indicate that a subtraction adjustment of $13,008 may be desired. If an adjustment is needed, please determine the correct code to be used on Form IT-225 and enter the amount on the New York "Modifications" screen.
and
2 - An amount of loss is entered as a federal Basis Carryover for an S corporation. An entry of -1 should be entered in the corresponding state if different Basis Carryover code in order to prevent the NJ return from reporting any prior year loss amounts. NJ tax law prohibits any carryover of losses, including Basis carryover amounts.
Are these both non e-file critical diagnostics?