Form 172 NOL

[IRonMaN]

But besides appearing in several other posts since the middle of February, the work around was already provided in this thread.  

[Shelby GT500]

It's the 7th and I still can't file the form.  Any new guess on when the form will be ready?

[IRonMaN]

What would your best guess be after reading the above?

[IRonMaN]

As a side note - I rest my case.

[taxserviceexpress]

Does anyone know when this form will be ready? It was supposed to be ready by March 6 and it is till not ready with a TBD.  Any idea on when we can file the tax returns with Form 172?

[IRonMaN]

Honest to God, does anybody read?

[Taxprohere]

this thread is starting to get funny.  Or very, very sad.

[kpincumbe]

It's 03/08, When is form 172 going to be ready? I need to file!

thanks

[IRonMaN]

Har du lest noe ovenfor? 

[George4Tacks]

Sure, why not?

[IRonMaN]

English ain't working too well so I thought I would give Norwegian a try ---------------- it really can't be any less effective.  

[cpastav]

3/6/25 HAS COME AND GONE....WHEN WILL THIS BE UPDATED TO ACCEPT EFILE?

[IRonMaN]

 Haben Sie etwas von dem oben Gesagten gelesen?

[reslaw]

Preparing the form manually would be a costly exercise.  This really isn't a viable workaround.

[IRonMaN]

Then your other option is to wait for the form to be finalized.

[Frustrated-in-IL]

Without snark, and Fireball, this place would be boring.  If the price of wise advice is Bob’s snark, I’ll gladly pay that price for his years of wisdom.

[taxman1]

Attaching form 172 via a pdf is not that time consuming.  Just download the fillable pdf from the IRS site.  And use the "Net Operating Loss Worksheet" in Proseries to help aid in filling out form 172 manually. The line numbers and fields are the same between form 172 and the worksheet in Proseries.  Attach form 172 pdf to the return.  Turn off error checking and efile.  

[BobKamman]

@taxman1  I wish people like you would stop lighting one candle when it's much more enjoyable to watch people curse the darkness.

[taxman1]

Oh Bobby Boy.  Your so lovable.   I bet your daddy slapped your momma when you came out.  😂

[DennisC]

It is now March 8, and you have not updated Pro Series for the IRS Form 172. Please advise as to status.

Judging from the Message string, it seems Lacerte users have the update, but we at Pro Series do not. This, unfortunately, appears to be the attitude Intuit has about Pro Series customers.

I have used this product going back to the beginning, decades ago. I started with TurboTax when it was a ChipSoft product in 1986. Let's be honest. Pro Series customers tend to be older preparers, like me, who are not interested in working with another product. I have seen the service we receive over the years slowly diminish. Pro Series customers do not appear to be a high priority for Intuit.

[Frustrated-in-IL]

I heard ProSeries is unable to handle any form with a 3-digit name.  Might just be a rumor though.

[kfccpa]

Dennis, I do agree with your summation as once again Lacerte and ProConnect had their Form 172 available on Feb 4th and ProSeries users are stuck with nothing but work arounds as they have even pushed the date out already. Intuit has done this to ProSeries users multiple times over the years probably in hopes that we will move to one of the other more expensive products.

[Frustrated-in-IL]

Wait, what?  Seriously, the cost of the software is ridiculous already.  It is difficult for a one person office to make a decent living already, and the cost of the software is already outrageous.  Intuit sells us this program, yet advertises for people to use TurboTax instead of us, and has terrible customer service, case in point being a straight answer why this form isn’t available while it apparently is in their other platforms.  Retirement is looking better and better.

[BobKamman]

Illinois is considered to have some of the strictest firearms control laws in the United States. Yet, it seems your NOL clients are holding a gun to your head, demanding that you complete their returns PDQ.  Instead of retirement, have you considered just dropping your NOL clients?  Consider the Matthew 5:30 approach to tax practice management:  "And if thy right hand offend thee, cut it off, and cast it from thee: for it is profitable for thee that one of thy members should perish, and not that thy whole body should be cast into h*ll."

[IRonMaN]

Every year there seems to be one form or one state that gives ProSeries users fits.  I’ll go out on a limb and predict the state of Greenland’s forms will be the problem for next tax season.

[Frustrated-in-IL]

Good Morning Bob.  I was just venting about the price of the program.  I only have two NOL clients that I am aware of off the top of the head, and one has no tax regardless and the other is an October 15th return.  If the program doesn’t have the form by then, I can only imagine the comments here.  Today I just wanted to jump on the bandwagon and complain.  It’s no fun being left out!

[TaxGuyBill]

---

@IRonMaN wrote:

I’ll go out on a limb and predict the state of Greenland’s forms will be the problem for next tax season.

---

After Elon fires most of the IRS, I would think that the 12 people who are still working at the IRS should be able to get things ready early enough for Intuit to start working on things.

[IRonMaN]

Yeah, but it is the Intuit side of the equation where the 💩 hits the fan.

[LeChuz]

It is March 9th... where is Form 172?

[BobKamman]

At the request of Greenland's governor, the company name has been changed to Inuit.  But you have to remember that whatever Inuit does, it has to be approved by IRS before going live.  And the office that does that might be down to one teen-ager driving a Model 3.