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- Foreign Income Exclusion plus Rental Loss Creates NOL Carryforward
Foreign Income Exclusion plus Rental Loss Creates NOL Carryforward
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cthomas428
Level 2
03-16-2024
04:10 PM
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In 2022, Client had a Foreign Earned Income Exclusion that zeroed out his salary. He also had a $12,000 rental loss.
In 2023, ProSeries is carrying forward the $12,000 rental loss as a NOL carryover. Is this correct?
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cthomas428
Level 2
03-16-2024
04:48 PM
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Thanks for the quick reply
sjrcpa
Level 15
03-16-2024
04:58 PM
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You're welcome.
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