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- Form 1120 NOL Utilization and charitable contributions
Form 1120 NOL Utilization and charitable contributions
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KarenR1
Level 1
03-27-2026
11:21 AM
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Preparing a 2024 Form 1120 in ProConnect for a new client. Client has post 2017 NOL carryovers and charitable contribution carryovers.
In the NOL utilization computation for 2024, ProConnect does not appear to be using Modified Taxable Income...i.e., it is not adding back the current year charitable contributions before applying the 80% computation.
What is the fix?
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