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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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- Rhode Island - no NOL carryover listed
Rhode Island - no NOL carryover listed
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Strongsilence-C
Level 10
03-06-2024
11:51 AM
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Are you a Rhode Island preparer? I have a RI Non-resident 1040 and the RI NOL is not listed as a Carryover to 2024. I am hoping there are RI preparers lurking around.
I have the RI state designation marked for the loss on Form 15.
And the Federal NOL is listed on the carryover sheet.
I use Lacerte.
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Strongsilence-C
Level 10
03-06-2024
07:36 PM
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There was no RI NOL deduction because the Federal deduction was limited to 0. But I am asking why this NOL does not also appear on the carryover sheet as an RI NOL too.
This is a CA RDP same sex couple (who can file MFJ in CA) but have activity in states where they must file as Individuals. So, the carryovers and sourcing can be tedious and difficult and having the NOL also listed as RI source would be helpful.
The splitting, sourcing, carryforwards and allocations that need to be manually input are labor intensive.
