usage of net operating loss (NOL) carryforward or capital loss carryfoward

[RWRob]

Taxpayers (clients) typically don't track their carryforwards.  So they don't know to plan on using them.  If we can show that we are suggesting how to recognize income in the year but not have to pay tax, they would be thrilled.

The software already does it.  It just needs to show that we actually thought about it.  Right now, there is no recognition of a strategy of savings

[Anonymous]

Thanks for the idea to recognize the strategy when tracking nol carryovers or capitol loss carryovers in the software. We are changing the status to "Open for voting" since it is no longer considered "New".

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[The_AntiTax_Man]

See:   Urgent! NOL Carryforwards limited to 80% of taxable income for indi...