1041 NOL carryover does not Proforma to next year in Lacerte

For tax year 2024 the IRS is released Form 172 to show the calculation of Net Operating Losses for Individuals, Estates and Trusts. This will generate automatically along with the NOL Worksheets.

Where to check in Lacerte if the NOL did not carryover as expected:

• In the Forms Tab review, General Info to verify the carryover is listed.
• Ensure there is a current year NOL:
  1. Go to Screen 33, Miscellaneous Deductions and NOL.
  2. Check the box Force NOL worksheet to print in the Net Operating Loss section.
  3. Review the NOL Worksheet located in the Worksheet tab of the Forms view.
  4. Verify that the worksheet shows a NOL to be carried forward on line 25.
  5. If there is no amount on line 25, review the worksheet to see where the NOL was used up.