jcodrea
Level 1
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Just-Lisa-Now-
Level 15
Level 15
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I havent had any of these yet, but Ive been wondering the same thing.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
aztxboy
Level 2
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I have the same issue.  

If you manually calculate the 80% limitation and place in the Carryover absorbed in 2019 input box, the taxable income before NOL (found on 2018 NOL utilization statement) changes to a number that is not the actual taxable income, but the original taxable income plus the absorbed amount.  Also, the change  (which is an override) screws up the 2019 Computation of Taxable Income for NOL utilization statement.

It seems to be a program error.  

The_AntiTax_Man
Level 5
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@aztxboy  @jcodrea  @Just-Lisa-Now-   Let me know if you discover a solution.

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Just-Lisa-Now-
Level 15
Level 15
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@IntuitAustin  or @AshleyatIntuit   can you direct us to instructions for making this NOL adjustment?

 

PS: I thought I saw something about a bill thats been introduced that would get rid that 80% NOL limitation hopefully it would be retroactive and this will have all been a moot point.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
AshleyatIntuit
Employee
Employee
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Hi @Just-Lisa-Now- let me get one of my tax experts visibility to this, and will let you know more info as i have it.