Illinois Schedule NLD

Has anyone else noticed that the IL Sch NLD is flat wrong for tax year 2007, the proforma to 2008, and tax year 2008?

Answer

It appears that this is a known issue in the Lacerte program.

If you go to the Lacerte webpage at http://www.lacertesofware.com and click on Support in the blue bar across the top, then type in "IL Net Loss Carryovers" under the Search the Knowledge Base, there is an article titled "Illinois (IL) Net Loss Carryovers from 1997 to 2006 do not properly proforma from the 2007 Lacerte Tax to the 2008 Lacerte Tax for the Business Modules" that goes over this and how to correct it.

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