Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

SRLY NOL amount input in Lacerte, Form 1120

Highlighted
Level 1

Due to a change in ownership (merger), NOL carryforward for this corporation is limited by IRC Sec. 382.  Where in Lacerte to input the amount of the limitation (already calculated) so that the NOL schedule for line 29a, Form 1120, will show the NOL before limitation and also after the limitation, to be able to carryforward only the amounts allowed.  The SRLY are years 2008 through 2016.  The initial year for the limitation is 2017.  Since 2017 is a partial year, I calculated the first year limitation and the annual limitation.  I also did a carryforward run through the years of expiration since these are losses prior to 2018.

Can any of the Lacerte users tell me where do I input the SRLY amount in order to appear on the NOL Deduction Statement (Form 1120, 29a) in column C (Net SRLY Loss after Limitation)?

 

Labels (1)
0 Cheers