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Completing New York city corporate Form NYC-2.4 in ProSeries

SOLVEDby Intuit2Updated almost 2 years ago

This article will help you complete the Form NYC-2.4 Net Operating Loss Deduction.

Most of the fields on the NYC-2.4 will calculate automatically for you; however, there are some areas to check to review transferred information:

Net Operating Loss Carryforward from Prior Years Smart Workhseet:

If you are entering a new return that was not prepared in ProSeries last year you'll need to enter both of these items manually:
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Schedule E - NYC Net Operating Loss Deduction Schedule:

This smart worksheet starts on line 17 and should show the history of the NOL starting in 2015. This worksheet is here to help track your NOL carryovers
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  • Column A – Enter your tax year
  • Column B - Enter the amount from NYC-2, Schedule B line 34.  Loss enter with a negative
  • Column C -   Will calculate the amount from Column B if a loss
  • Column D - Enter the amount of NOL used in the year used.  Note there will only be an amount in column D is you have income in Column B.
  • Column F – Will show the Loss remaining.  Amounts will be 0 or a loss.

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