53656

[#1]

The following diagnostic is generating:

NOL # {PrefixNum} : The program doesn't automate the limitation of post-2017 net operating losses to 80% of taxable income, before taking into account any NOL deduction. You must override the amount of post-2017 NOL carryforward absorbed this year so it does not exceed the 80% of taxable income limit. If the net operating loss comes from an estate or trust Schedule K-1, enter the amount absorbed in that screen.

Solution:

Help Article 

[debkins]

If you have to zero it out, in the 2021 program, you lose the carryforward.  There is no place called "CARRYOVER ABSORBED" so the carryover amount "available" has to be deleted for the diagnostic to clear.  Is there a better alternative?

[trodneyea]

Same issue - "Carryover Absorbed" is not available in the 2021 program.  Help?!

[sjrcpa]

I have a separate WP schedule where I track carryovers and other Notes for Succeeding Years.

[debkins]

I spoke to someone from Lacerte yesterday about this, as well as the QBI business loss carryforward which has the same problem.  I was placed on hold a few times, and finally got disconnected.  I hope they are working on a fix, but I agree with you, that a separate schedule is necessary to track these carryforwards.

[sgcpa]

Does anyone know if Lacerte is working on a fix for this or are we going to have to manually make the calculation and input it for all of our clients that this relates to?