tkimura
Level 1
12-06-2019
04:45 PM
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I am trying to amend CA 2014 returns using carryback 2016 NOL. With 2014 Lacerte, I can input "2016" as a year of loss for FED but cannot for CA. It automatically add back the amount of 2016 FED NOL carryback in schedule CA and cannot take advantage of carryback for CA. How should I input carryback data for CA in 2014 Lacerte?
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sjrcpa
Level 15
12-06-2019
04:45 PM
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@abctax55 @George4Tacks Was 2014 one of those wonky years where CA suspended a bunch of things?
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abctax55
Level 15
12-06-2019
04:45 PM
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I'll have to check when I get back to the office....but that's highly likely.
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George4Tacks
Level 15
12-06-2019
04:45 PM
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https://accountants-community.intuit.com/articles/1609455-net-operating-loss-carryback-for-californi... - I believe you have to enter 2013 (or earlier) instead of 2016. This is to be paper filed, so you need to use some white out, or just cross off and change the 2013 to 2016 before mailing.
Here's wishing you many Happy Returns
George4Tacks
Level 15
12-06-2019
04:45 PM
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Maybe @Benjamin_Dickson or @Lauren Towne or @IntuitAlicia could confirm?
Here's wishing you many Happy Returns
Here's wishing you many Happy Returns
IntuitAlicia
Employee
12-06-2019
04:45 PM
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Yes, there are a couple of years where the CA NOL input isn't as flexible as it is now, due to those years where NOL suspension period was active.
abctax55
Level 15
12-06-2019
04:45 PM
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FIRST hit when googled:
"*******Tax software is no substitute for a professional tax preparer*******
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sjrcpa
Level 15
12-06-2019
04:45 PM
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So easy!
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abctax55
Level 15
12-06-2019
04:45 PM
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(lord knows *I* can't remember if/when/how many times California has changed its mind....)
"*******Tax software is no substitute for a professional tax preparer*******
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