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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- Re: How to get Lacerte to show the Oklahoma NOL for a rental? Client is OK non-resident. Two rentals are in OK (loss every year) - 3rd rental CA (gain). OK column is blank.
How to get Lacerte to show the Oklahoma NOL for a rental? Client is OK non-resident. Two rentals are in OK (loss every year) - 3rd rental CA (gain). OK column is blank.
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Elaine1
Level 2
05-27-2022
04:07 PM
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2 Comments 2
George4Tacks
Level 15
05-28-2022
11:40 AM
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Do you mean PAL instead of NOL?
Those are entered at the bottom of the Schedule E screen and can be tied to the state there.
Answers are easy. Questions are hard!
PhoebeRoberts
Level 11
05-31-2022
09:38 AM
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Oklahoma person here.
Assuming you actually have an Oklahoma NOL (which Lacerte either doesn't calculate, or doesn't calculate correctly - you have to manually prepare a 511-NR-NOL from https://oklahoma.gov/tax/forms.html), the carryover goes in Screen 15, NOL Deduction, Cur. Yr NOL / Misc, in the first two fields.
