Clear diagnostic #53656 - Override amount of post-2017 NOL Carryforward

[mary13]

How do I clear this diagnostic?  Lacerte Diagnostic for NOL carryforward:  NOL#1 The program doesn't automate the limitation of post-2017 NOL 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% taxable income limit.  

[sjrcpa]

By doing what it says:

You must override the amount of post-2017 NOL carryforward absorbed this year so it does not exceed the 80% taxable income limit.  

[mary13]

My question is where is that input override located? "Post-2016 NOL Carryforward absored"

[apc63]

Screen 15, in the input detail below the grid, the last line labelled 'NOL absorbed in 2021'

[Carol65]

I am having the same problem. I do not see any input detail below the grid.  There is nothing that says NOL absorbed in 2021.

Thanks for your help.

[apc63]

Go to screen 15, click on one of your NOL's, hit Ctrl-W to switch to batch mode, enter code 46, then enter a dollar amount (-1 if zero of the loss is being absorbed).  Hit Ctrl-W again, and you should be on the field where the entry needs to be made.  You can then adjust the dollar amount to whatever you need it to be, and hit the Ctrl-[up or down arrow] to scroll to the same field in the other losses.  Make sure your screen is set so you only see the grid in the top portion and can see the detail entry area below the grid.

[mary13]

When I input code 46 I get a diagnostic that says "is not a valid code".

[Carol65]

I'm also getting the not a valid code message when I input 46 and no matter what I try I can't see anything but the grid.   I've used Lacerte for about 30 years and never had this issue before but sometimes I miss things so I had a coworker look at it and they couldn't figure it out either.   I appreciate your help.

[Carol65]

When I enter code 46 in batch mode and then enter the NOL carryforward absorbed that year it does clear the diagnostic. I have to do this in batch mode for each year because if I hit Ctrl-W again I can't see where the entry is or where it needs to be for the next year. No matter what I do I cannot see the detail entry area below the grid.

It turns out I only get the not valid code message if I try to delete code 46 (which I can not do even though the code was mistakenly entered twice on one year).

The tax returns with this diagnostic look fine now. Thanks again for your help during this busy time!

[mary13]

Reason could see the input and code 46 would work because a Lacerte update didn't update correctly.  Once it did I could see the input field and cleared the diagnositc.

[kanchan-textax-u]

NOL #1: 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.

Please let me know how to resolve in proconnect.

I had loss of 200,000 in 2020 and in 2021 also loss of 250,000