Entering Prior Year NOLs by year

Forum|Forum|5 years ago
March 17, 2021
7 replies
30 views

Hey all, I am working on a 2019 Form 1040 in ProSeries Professional. I have a new client who has prior year NOL carryforward and for the life of me, I cannot find the worksheet to enter this NOL for each year they were incurred. I see where I can enter the total number, but I need to separate it out. I've tried searching but just get the instructions for software that isn't ProSeries or just the lump number.

Any help is appreciated! Thank you!

ProSeries Professional

This topic has been closed for replies.

Best answer by Just-Lisa-Now-

I dont think PS has one to enter per year. You could break it into years in the supporting statement

Just-Lisa-Now-

Answer

Intuit Community Champion

I dont think PS has one to enter per year. You could break it into years in the supporting statement

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

D

DaniKAuthor

Level 3

That's what I was fearing. So based on your screen shot, do I put the carryforwards all in that 2019 line and then it should populate 2020 itself right? or is that carrying forward TO 2020 that goes in there?

taxiowa

Level 8

The amount in the 2019 column is the amount carried forward from 2018, so you would put the NOL there if this was new client and you are working on 2019 return.

Sign up

Login with SSO

Let's get you signed in

Login with SSO