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Beachkids5
Level 3
May 2, 2022
Solved

If someone has an AGI of -72027 because of real estate sale and standard deduction of 27400, what is NOL to carryforward, 72027 or 99427/

  • May 2, 2022
  • 2 replies
  • 12 views

If someone had AGI of -72027 and standard deduction of 27,400, what is the NOL to carryforward?

Is it 72027 or 99427.

This topic has been closed for replies.
Best answer by Beachkids5

thank you.  I failed to say I didn't do the return last year and was trying to avoid having to input all the info from 2020, but may have to.

2 replies

T
TaxGuyBill
Level 15
May 2, 2022

Maybe neither.

You indicated you are using ProSeries Professional, and that should calculate the NOL for you.

    Just-Lisa-Now-
    Just-Lisa-Now-Intuit Community Champion
    Intuit Community Champion
    May 2, 2022
    Look at the carryover worksheet, it should show the NOL.
    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
      B
      Beachkids5AuthorAnswer
      Level 3
      May 2, 2022

      thank you.  I failed to say I didn't do the return last year and was trying to avoid having to input all the info from 2020, but may have to.

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