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Does, or will, the 2018 Proseries software perform the limitation calculation for NOL carryforwards (80% of taxable income without regard to the NOL deduction)?

mark1
Level 1

Populating the NOL carryforward coming into 2018 on Schedule 1 Line 21 (Other Income Statement).  Software does not appear to limit.

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IRonMaN
Level 15

But it's only January so the software isn't completely functional yet.


Slava Ukraini!

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3 Comments 3
IRonMaN
Level 15

But it's only January so the software isn't completely functional yet.


Slava Ukraini!
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abctax55
Level 15

Are you asking about ProSeries software, or Proconnect Tax Online?

They are different critters; but I don't think either one is ready for prime time yet.  I *would* anticipate that both will do the computation & limitation when the software updates are completed.

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
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mark1
Level 1
Proseries software.  Thanks.
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