Urgent! NOL Carryforwards limited to 80% of taxable income for individuals. Proseries does not calculate this limitation, please fix!

[Stumpedagain]

Proseries Professional is refusing to efile a return because the total income is less than the refund.  Error happens because Proseries is deducting the entire NOL Carryforward without regard to the 2021 80% of taxable income limitation.  Please fix this, need to file a return.

[sfane]

Just awful that Proseries doesn’t fix this 

immediately 

[The_AntiTax_Man]

@IntuitGabiU  do you have a status update on the ProSeries 1040 software tax module NOL computation worksheets yet?

This absolutely needs to get done for 2023.

[IntuitGabi]

This idea is Under review for TY24 and potentially later versions of TY23. Thanks for your votes and leaving your comments below. 

[The_AntiTax_Man]

Thank you for the update @IntuitGabi 

[The_AntiTax_Man]

The wheel has already been created in the 1120 module.

[The_AntiTax_Man]

@IntuitGabi  Just checking in to see if you are still with us and still responding to us here in this space?

What has been fixed and what has been improved in PS23? 

I know our PS22 list was long this past year, but we have been very, very nice in the past year.

[IntuitGabi]

Hi @The_AntiTax_Man. The recent status still rings true. If I hear anything related to this within tax season, I'll be sure to update you. I'll pass on your sentiments and thank you for additional information as well! 

[The_AntiTax_Man]

Thank you @IntuitGabi  Glad you are still here.  

[jacquemcm]

The Georgia return has a worksheet that calculates the 80% limitation so why can't Intuit do the same on the federal return?  This really is a nightmare to override the NOL numbers and track what the actual carryforward is as compared to the NOL worksheet.  UGH!!!!!!

[MelodyKPfeifer]

Revive this post!