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sharpcougar
Level 3
10-06-2022
02:55 AM
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Morning everyone. Picked up a new client that has approximately 245K of NOL from prior years. Whenever I put in the NOLs in the Federal Carryover worksheet line 14/15, it says that I need to paper file because the "federal tax withheld is greater than or equal to sum of income from the following sources (wages, dividends, interest, etc). Note that the filer is a schedule C earner.
Thanks.
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TaxGuyBill
Level 15
10-06-2022
09:26 AM
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Yeah, that is a new error message this year in regards to NOLs. I don't remember if it is a ProSeries mistake or an IRS error.
I would suggest trying to e-file it by disabling the e-file checking to see what happens.
