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Level 6
Mar 16, 2023 6:04 PM UTC
Question

NOL

For NOL, do I have to manually enter the amount available to carryforward in the carryover worksheet in ProSeries ? ProSeries does not automatically calculated it ?

Thanks

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6 replies

IRonMaN
Level 15
Mar 16, 2023 6:07 PM UTC

I thought the software did the leg work for you.  At least I thought it did for the Professional version anyway.

Slava Ukraini!
Mar 16, 2023 7:08 PM UTC

ProSeries Basic is great for almost everything, but unfortunately NOLs is one of the few things it does not have.  So yes, you need to manually calculate and manually enter NOLs if you use Basic (or use Professional on a Pay-Per-Return basis if you want to use the NOL worksheets).

 

ChiHoangAuthor
Level 6
Mar 16, 2023 8:43 PM UTC

Thank you for your answer.