Entering a net operating loss (NOL) for a year other than current tax year in Lacerte

This article will assist you with entering a net operating loss (NOL) from a year other than the current taxable year.

Whether the NOL is a carryback in prior years or a carryforward, the entries must be made on Screen 15, Net Operating Loss.

There are three mandatory entries:

• Year of loss (e.g., 2024) (MANDATORY)
• Initial loss
• Carryover available in 2025

If AMT is involved with the NOL, enter amounts for AMT initial loss and AMT carryover available in the current year. Amounts flow to Form 1040 as Other Income.

The NOL absorbed in 2025 field will not work for losses from 2017 and earlier. For older years, the Carryover available in 2025 could be changed to the amount of NOL you want used and you can track the amount that is available separately to remind you to manually adjust the amount in the next year after the proforma (such as on the Notes screen as a worksheet).

F1 Help for the NOL absorbed in 2025 [O] override includes Make an entry to override the program calculation for the amount of post-2017 NOL carryover absorbed in the current year

Related topics

• Entering an NOL carryover in the Individual module
• How to enter a NOL carryback for the prior year in Lacerte