Why am I not able to use the entire NOL Net Operating Loss Carryover from previous several years? It uses only 80%, but I have over 2.5M NOL carryover since 2015.

[muzna@nimali3.co]

It only reduced current income by 80% by using NOL carryover, rather than the entire 100%.

[sjrcpa]

Read up on the rules. Some years have an 80% limit.

[abctax55]

Or, get up-to-date on your CPE? /S

[muzna@nimali3.co]

Yes I read up on the rules. But they did not agree with the intuit Proconnect automatically using the 80% NOL offset. How can I change or override this in Intuit while completing the tax return?

[PATAX]

@sjrcpa @abctax55 just finished one with this, and pro series professional did a good job. Also watch on the State corporate returns, Pennsylvania  has its own rules concerning nol.