Form 172 needs to be ready before 03/01/2025 so Farmer's can efile by their 3/1/2025 deadline without penalty or interest

[Verk222]

Individuals who receive 2/3 gross income from farming (Sch F) do not have to pay estimated quarterly taxes throughout the year as long as they efile by March 1st and pay their entire tax liability.  To meet this deadline Form 172 - Net Operating Losses needs to be available before March 1st, otherwise the individuals that have this scenario cannot efile on time and will have to pay penalties and interest.  It is my expectation as a paying Intuit software customer that all forms would be ready by their respective filing deadlines and this is not the case and making me very, very upset.  I pay good money for this software and expect it to be fully functional!

[sjrcpa]

Looks like it's not gonna happen.

https://accountants.intuit.com/community/proseries-tax-discussions/discussion/form-172-nol/00/315306

[Just-Lisa-Now-]

Ive seen people over in the ProSeries Facebook group say they've got the form from IRS, completed it and attached it as a PDF, then turned off Error Checking at Conversion to get the return to go through now.

[Brainstrom]

I totally agree. We pay good money for the Tax preparation software and we get late forms in return. This is ludacris, we as preparers look incapable of preparing taxes on time and we have to hold these returns and not get paid until the forms are available!!!!

[Terry53029]

If you look at the instructions for form 172 it is only to compute your carry forward/back. says nothing about including the 172 in your tax return

[TaxGuyBill]

Intuit doesn't like farmers.

If you have farming clients, then either (a) I recommend using other software because Intuit frequently has important forms not ready by March 1st, or (b) tell your farming clients to not rely on the March 1st rules and make Estimated Tax payments throughout the year.

[Frustrated-in-IL]

You must be new here.

[lori3]

Actually on page 3 of the instructions under Deducting a Carryforward, it does state:

"Attach a Form 172 for each NOL to your form 1040 or Form 1041 if it applies" so if you are deducting a carryforward, you will need to attach the 172.

[Michelle46]

Have they gotten it accepted that way - I read somewhere someone did that and it still got rejected?

Do they just use the "other" option and just type Form 172 when attaching the form?