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- Why is CA allowing NOL CFW when modified AGI and net business income greater than 1 million?
Why is CA allowing NOL CFW when modified AGI and net business income greater than 1 million?
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ellenabel
Level 3
01-08-2022
04:26 PM
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I have a 2020 individual return with a CA NOL CFW from 2019 of 500K. In 2020 there is a 1231 gain of 4 million coming from a partnership. Lacerte automatically treats income from partnership as a business income. Modified AGI and net business income both greater than 1 million. Lacerte is allowing the 500K NOL in 2020 but it should not be.
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