Please add form 461 for Limitation on business losses under the 1040

Bphayward · ‎01-19-2023

The 1040 software requires a manual calculation of the Excess Business Loss, please add form 461.

This could result in a substantial error on the tax return if not supported.

msmith7305 · ‎01-19-2023

I have begged for this and gotten no response from ProSeries support.

Also, the NOL carryover worksheet is not set up to keep the NOL years separate. All years are combined so you have to manually figure out how much is allowed under current law if you have any pre 2018 NOL carryover.

So much for the "Pro" in ProSeries.

IOpine

It is my understanding that the return cannot be filed electronically if the 461 is required. Correct?

Please add form 461 for Limitation on business losses under the 1040

Please add form 461 for Limitation on business losses under the 1040

Please add form 461 for Limitation on business losses under the 1040

Batch Print K-1's in a 1065 return

Allow user to require ProSeries to open "Permanent Comments" when client return is opened.

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