taxshack

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Level 5

About

I was inducted into the industry at an early age. My mother used to make the family form an assembly line to put together tax folders and annual client letters when getting ready for tax season. I've done this my whole life and they'll probably find me face planted on my desk when it's time to go.

Link to Website

Products

ProSeries Tax

Experience: 25 years

Details

Expertise

Eclectic

State proficiencies

Multiple

Language

English

Activity Feed

Posts
Replies

Re: 80% and nol

My favorite method is to go to the carryover worksheet and enter the limited amount as the amount carrying into the current year and then adjust the amount carr...

taxshack

Oct 24, 2025
Re: Form 172 NOL

The "why" is because that is the Proseries solution to dealing with new forms. This is why 7203 had to be attached as PDF for so long and same with 1116(b). May...

taxshack

Mar 27, 2025
Re: 7004 Extension for 1120-H

LMAO! You're right. Clearly I've got 3/17 stuck on my brain. Thank you for correcting me!

taxshack

Mar 24, 2025
Re: 7004 Extension for 1120-H

Thanks! It's too late now, but hopefully you can figure it out for extension filings next year.

taxshack

2

Mar 24, 2025
Re: Form 172 NOL

@TiredFarmerIt's right in the form instructions: Part II—NOL CarryoverComplete this part to figure the NOL deduction for each carryback year and the amount to b...

taxshack

1

Mar 27, 2025