Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Net Operating Loss: CA 3805V form
Net Operating Loss: CA 3805V form
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
oball23
Level 1
04-02-2022
03:31 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
By FTB definition, a NOL is: If your deductions and losses are greater than your income from all sources in a tax year, you may have a net operating loss (NOL).
https://www.ftb.ca.gov/file/business/deductions/net-operating-loss.html
Question I have is why is this not automatically carrying over to the 3805V form and subsequently to the following year's information? I had a client with an adjusted gross income of -50,000 in 2020, this should have carried over to 2021's CA 3805V and against ordinary income. Should I be entering the -50,000 manually into the 3805V page 3, with a REG code? Doesnt make sense I should do this for every K-1 with a loss, etc.?
Labels
