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- Re: NOL Carryfoward
NOL Carryfoward
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KaleyR
Level 2
02-13-2024
09:49 AM
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A taxpayer has a business and file a sch C. They got married and now filing MFJ. When I transfer to do MO 1040, it splits the NOL between both taxpayer and spouse. Am I missing something that should be marked just taxpayer? How do I get the Missouri to show taxpayer just gets the loss? Should I just over ride ?
2 Comments 2
Just-Lisa-Now-
Level 15
02-13-2024
10:25 AM
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Since its MFJ, does it matter?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Christy H
Level 2
02-13-2024
04:01 PM
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I am having a similar issue on the federal return. This was my question:
I have an existing tax client who married in 2023. The new spouse has a significant NOL from prior years. The NOL can only be used against the new spouses income. However, the ProSeries program is applying the NOL to both spouses income. How do I get the software program to only apply the NOL to the new spouse that incurred the NOL?
