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Force ProSeries tax preparers to forego NOL carryfoward

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Force ProSeries tax preparers to forego NOL carryfoward

NW-MN-CPA

Whenever there is a current year NOL calculated in a ProSeries Professional return, PLEASE make tax preparer check box indicating (for sure) they do not want to carryforward NOL. I understand you have to elect to carryforward NOL, but what if I don't even realize there is an current year NOL until it is too late.  I believe most preparers only worry about clearing the error messages that show up in the yellow triangle "check errors" list. Most preparers do not click the "continue" box on the "check errors" page. Sometimes, I do not even realize until the next year when I transfer client data from prior return that I forgot to elect to forego NOL carryback (happens to me about once every year). As a result, I am stuck with NOL carryback when that might not have been the best answer.

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